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918 First Street Sanger, TX 76266

4 Beds 2 Baths 2,006 sqft Built 2020

$260,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $130.06
  • 3 Days on Market
  • MLS # : 14471046
  • Updated Date : 11/13/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,006 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Topeka plan is now available at Willowwood! This spacious single-story home has 4 bedrooms, 2 full baths and a spacious, open layout. This new home comes with a host of impressive upgrades all included at no additional cost. Upgrades included in this home are energy-efficient kitchen appliances, granite countertops, designer wood cabinetry with crown molding, a WiFi-enabled garage door opener, programmable thermostats and more! In addition, this home has a beautiful brick exterior, a professionally landscaped front yard and fully fenced back yard. Elevation of the front of the house may vary.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Willow Wood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $94k243k

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

Neighborhood: Willow Wood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7201734

* 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
Butterfield Elementary School Primary Regular 501 32 7
Sanger Middle School Middle Regular 415 28 6
Sanger High School High Regular 796 52 5

Butterfield Elementary School

  • Education Level: Primary
  • # of students: 501
  • # of teachers: 32
7
GreatSchools Rating

Sanger Middle School

  • Education Level: Middle
  • # of students: 415
  • # of teachers: 28
6
GreatSchools Rating

Sanger High School

  • Education Level: High
  • # of students: 796
  • # of teachers: 52
5
GreatSchools Rating
 

$234,810$286,990$260,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$963
Property Tax -$356
Property Insurance -$143
HOA -$29
Property Management Fees -$99
CASH FLOW
$160

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$260,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,139

INVESTMENT

$71,139

Down Payment
$65,225
Rehab Estimate
$2,000
Closing Costs
$3,914

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$963

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,225
Loan Amount $195,675
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$34,894

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,745

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7504$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 918 First Street Sanger, TX 4
    • 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,006 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 311 Quail Crossing Drive Sanger, TX 1
    • 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,955 Sqft ∙ Built 2004
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 41 Kramer Lane Sanger, TX 2
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 2016
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 5 Grouse Run Sanger, TX 3
    • 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,950 Sqft ∙ Built 2020
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 28 Heron Drive Sanger, TX 5
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2015
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471046
Last Updated: 11/13/2020
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