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923 First Street Sanger, TX 76266

3 Beds 2 Baths 1,649 sqft Built 2020

$244,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $148.51
  • 3 Days on Market
  • MLS # : 14496521
  • Updated Date : 01/08/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,649 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Atchison by LGI Homes is our newest plan in the community of Willowwood. This 3-bedroom, 2-bath home features an open and functional layout with a large family room and fully loaded kitchen leading to a spacious dining area. The Atchison comes with incredible upgrades all included such as granite countertops, energy-efficient appliances, stunning wood cabinets with crown molding and a WiFi-enabled garage door opener. In addition, this new home has a beautifully landscaped front yard and a fully fenced back yard perfect for enjoying outdoor activities. Elevation of the front of the house may vary.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$851
Property Tax -$334
Property Insurance -$123
HOA -$29
Property Management Fees -$99
CASH FLOW
$215

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.

$244,900

PROJECTED PRICE

$1,650

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,899

INVESTMENT

$66,899

Down Payment
$61,225
Rehab Estimate
$2,000
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$35,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5753$1,5954$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 923 First Street Sanger, TX 5
    • 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,649 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 113 Ringneck Drive Sanger, TX 1
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 1204 First Street Sanger, TX 2
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.99
    •  
  • 101 Kincaid Drive Sanger, TX 3
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 2012
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.07
    •  
  • 138 Kincaid Drive Sanger, TX 4
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2007
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
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 #: 14496521
Last Updated: 01/08/2021
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