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913 Swan Ridge Drive Sherman, TX 75092

3 Beds 2 Baths 1,822 sqft Built 2015

$219,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $120.69
  • 8 Days on Market
  • MLS # : 14500162
  • Updated Date : 01/23/2021 at 18:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

This is the one! Don’t miss your opportunity to own this beautiful home accented with stone in the highly sought after Preserve. This home has an open floor plan that is perfect for entertaining. The family room is open to the dining area and kitchen that has an island and stainless steel appliances. The walk-in pantry and laundry room have plenty of storage space. The spacious owner’s suite is separate from the guest rooms which adds privacy. It has a garden tub, large walk-in closet and linen closet. There is a bonus room that would make a great office, second living area, formal dining room or gym. There is plenty of room to play catch in the backyard. Easy access to freeway, shopping and entertainment.

SEE MORE

MARKET HIGHLIGHTS

  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)

PRICE & RENT TRENDS

Zip Code: 75092

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $60k199k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75092

No Data Available.

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Sory Elementary School Primary Regular 593 41 7
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Sory Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 41
7
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$764
Property Tax -$504
Property Insurance -$126
HOA -$21
Property Management Fees -$99
CASH FLOW
$76

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$219,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,257

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,590

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5903$1,6004$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 913 Swan Ridge Drive Sherman, TX 2
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.87
    •  
  • 4519 Falcon Drive Sherman, TX 1
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2005
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 1436 Swan Ridge Drive Sherman, TX 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2016
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 4413 Hummingbird Drive Sherman, TX 4
    • 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 2016
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 903 Cormorant Drive Sherman, TX 5
    • 4 beds 2 baths ∙ 1,887 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,887 Sqft ∙ Built 2015
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jojuana Cleveland
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500162
Last Updated: 01/23/2021
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