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923 Swift Drive Sherman, TX 75092

4 Beds 2 Baths 2,004 sqft Built 2020

$271,335

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $135.40
  • 6 Days on Market
  • MLS # : 14502861
  • Updated Date : 01/20/2021 at 13:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,004 sqft
  • Baths : 2 full
Listing Agent

Ntex Realty, Lp

Listing Agent's Description

This 3-bedroom, 2-bathroom home has a galley feel with an open floor plan. The flex room in the front of the home can be easily utilized as another bedroom if needed or a den for reading and relaxing. Through the kitchen, you’ll find the cabinets open to the dining and living rooms at the heart of the home. The owner’s suite is nicely situated in the back corner with its own hallway to create the feel of your own private getaway. Never track mud into your home again because the San Gabriel II has the laundry room situated off the garage. The unique layout of this home gives you the chance to do something different than all your friends while still providing a comfortable space to live and entertain.

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: 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
Sory Elementary School Primary Regular 593 41 7
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Sory Elementary School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 41
7
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$244,202$298,469$271,335

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$942
Property Tax -$480
Property Insurance -$136
HOA -$42
Property Management Fees -$99
CASH FLOW
$1

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.

$271,335

PROJECTED PRICE

$1,700

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$73,904

INVESTMENT

$73,904

Down Payment
$67,834
Rehab Estimate
$2,000
Closing Costs
$4,070

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$942

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,834
Loan Amount $203,501
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5504$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 923 Swift Drive Sherman, TX 5
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 1210 Pintail Sherman, TX 1
    • 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,870 Sqft ∙ Built 2005
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 4512 Blue Jay Lane Sherman, TX 2
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2005
    property image
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 4519 Falcon Drive Sherman, TX 3
    • 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,848 Sqft ∙ Built 2005
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 4413 Hummingbird Drive Sherman, TX 4
    • 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,863 Sqft ∙ Built 2016
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
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 #: 14502861
Last Updated: 01/20/2021
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