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9200 Alabama Street Joshua, TX 76058

4 Beds 2 Baths 1,648 sqft Built 2008

$270,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $163.83
  • 4 Days on Market
  • MLS # : 14502791
  • Updated Date : 01/21/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Keller Williams-johnson County

Listing Agent's Description

Adorable 4 bedroom, 2 bathroom home in highly sought after Godley ISD! 2 acres with horses permitted! Lovely views of Lake Clark! Large living room with open concept floorplan perfect for entertaining. Expansive kitchen features tons of cabinets and counterspace, breakfast bar, and slider to the back deck. Separate utility room off of kitchen. Oversized master bedroom equipped with stained concrete floors, lots of windows for ample natural lighting, and an ensuite complete with dual sinks, garden tub, separate shower, and walk-in closet. All 3 additional bedrooms are nicely sized. Property is partially fenced and has a storage shed. Country living minutes from CTP makes easy commute to Ft Worth.

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

Neighborhood: Lakeside Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k243k

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

Neighborhood: Lakeside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Godley Elementary School Primary Regular 627 42 3
Godley Middle School Middle Regular 282 22 5
Godley High School High Regular 526 42 4

Godley Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 42
3
GreatSchools Rating

Godley Middle School

  • Education Level: Middle
  • # of students: 282
  • # of teachers: 22
5
GreatSchools Rating

Godley High School

  • Education Level: High
  • # of students: 526
  • # of teachers: 42
4
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$938
Property Tax -$647
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$337

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$35

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,541

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,165
1$1,1652$1,4703$1,650
$1,650
RENT COMPS ANALYSIS
  • 9200 Alabama Street Joshua, TX 2
    • 4 beds 2 baths ∙ 1,648 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,648 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.89
    •  
  • 6409 Friesian Drive Godley, TX 1
    • 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,392 Sqft ∙ Built 2018
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,165
    • $0.84
    •  
  • 5908 Elm Court Joshua, TX 3
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2012
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Shelley Green
Keller Williams-johnson County
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502791
Last Updated: 01/21/2021
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