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922 Swift Drive Sherman, TX 75092

4 Beds 3 Baths 2,675 sqft Built 2020

INVESTimate

$303,550

List Price

$2,400

$2,160 - $2,640

Rent Est.

$322,067  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $113.48
  • 7 Days on Market
  • MLS # : 14415604
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,675 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

This 2-story, 2,675-square-foot home is eye-catching from first look, and continues to please throughout the interior. The Briscoe weaves together a broad array of included features that would be considered upgrades by other builders—big details like granite countertops and wood floors, crown molding and a hall bench in the mudroom. The main floor presents an open concept where the family living happens. The kitchen island gives full view of the family and dining rooms. The private owners suite is the only bedroom downstairs with an expansive bath and walk-in closet that are both designed for sharing, plus access to the laundry room. Finally, the flex room gives you one more reason the love this plan.

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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
S And S Cons Elementary School Primary Regular 383 26 4
S And S Cons Middle School Middle Regular 190 14 6
S And S Cons High School High Regular 268 25 5

S And S Cons Elementary School

  • Education Level: Primary
  • # of students: 383
  • # of teachers: 26
4
GreatSchools Rating

S And S Cons Middle School

  • Education Level: Middle
  • # of students: 190
  • # of teachers: 14
6
GreatSchools Rating

S And S Cons High School

  • Education Level: High
  • # of students: 268
  • # of teachers: 25
5
GreatSchools Rating
 

$273,195$333,905$303,550

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,120
Property Tax -$537
Property Insurance -$173
HOA -$42
Property Management Fees -$99
CASH FLOW
$430

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.

$303,550

PROJECTED PRICE

$2,400

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,441

INVESTMENT

$82,441

Down Payment
$75,888
Rehab Estimate
$2,000
Closing Costs
$4,553

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,120

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,888
Loan Amount $227,663
See What Happens When You Reinvest Cash Flow

10.92

YEARS SAVED

$61,263

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,363

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,2504$2,400
$2,400
RENT COMPS ANALYSIS
  • 922 Swift Drive Sherman, TX 4
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
  • 3120 Preston Club Drive Sherman, TX 1
    • 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 3112 Preston Club Drive Sherman, TX 2
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2010
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 3205 Preston Club Drive Sherman, TX 3
    • 3 beds 3 baths ∙ 2,528 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,528 Sqft ∙ Built 2009
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Clinton Shipley
Ntex Realty, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415604
Last Updated: 08/21/2020
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