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921 E 5th Street Springtown, TX 76082

4 Beds 2 Baths 1,749 sqft Built 2020

INVESTimate

$268,500

List Price

$1,280

$1,152 - $1,408

Rent Est.

$286,328  ( +6.64%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $153.52
  • 10 Days on Market
  • MLS # : 14415041
  • Updated Date : 08/20/2020 at 23:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,749 sqft
  • Baths : 2 full
Listing Agent

Park Place Real Estate

Listing Agent's Description

Stunning new construction 4 bedroom 2 bath custom home includes incredible custom features. Quartz counter tops throughout, gorgeous wood look tile. Huge master bath with gorgeous shower. Fantastic tile details as well! Stunning kitchen with custom cabinets, pendant lighting, farm style sink, stainless steel appliances and walk in pantry. Exceptional quality throughout and new home warranty. This is a stunning home so bring your most selective buyers.

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: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Springtown Elementary School Primary Regular 508 33 6
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Springtown Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 33
6
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$241,650$295,350$268,500

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$991
Property Tax -$558
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$496

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$268,500

PROJECTED PRICE

$1,280

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.64%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,153

INVESTMENT

$73,153

Down Payment
$67,125
Rehab Estimate
$2,000
Closing Costs
$4,028

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$991

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,125
Loan Amount $201,375
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,233

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3503$1,400
$1,400
RENT COMPS ANALYSIS
  • 921 E 5th Street Springtown, TX 1
    • 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,749 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.73
    •  
  • 253 Firefly Drive Springtown, TX 2
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 252 Lovers Path Drive Springtown, TX 3
    • 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2007
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.71
    •  
PROPERTY LISTING DETAILS
Kelly Horton
Park Place Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415041
Last Updated: 08/20/2020
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