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929 Lighthouse Lane Savannah, TX 76227

4 Beds 3 Baths 2,325 sqft Built 2012

INVESTimate

$305,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$327,753  ( +7.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $131.18
  • 6 Days on Market
  • MLS # : 14418084
  • Updated Date : 08/23/2020 at 15:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,325 sqft
  • Baths : 3 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Former Bloomfield Model Home loaded with upgrades! You’ll love coming home to a beautiful landscaped corner lot in the prestigious Savannah neighborhood. Beautiful elevation with a large front porch makes your home standout in the neighborhood. Vaulted ceilings, beautiful hand scrapped hardwood floors, natural lighting. Working from home is a breeze with this spacious study. The gourmet kitchen is equipped with a gas stove and an oversized island. 3 bedrooms 2 baths on the first floor including the huge master suite and large closet. Enjoy an additional bedroom, full baths, living area, and built in study nook upstairs perfect for a teen or home schooling. The backyard is a stress free haven waiting for you.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,125
Property Tax -$694
Property Insurance -$162
HOA -$71
Property Management Fees -$99
CASH FLOW
-$281

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.

$305,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.46%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,976

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8703$2,0004$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 929 Lighthouse Lane Savannah, TX 2
    • 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,325 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.80
    •  
  • 1048 Cotton Exchange Drive Savannah, TX 1
    • 4 beds 4 baths ∙ 2,181 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,181 Sqft ∙ Built 2006
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 701 Marietta Lane Aubrey, TX 3
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 2014
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 720 Whitemarsh Drive Aubrey, TX 4
    • 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,353 Sqft ∙ Built 2016
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 709 Whitemarsh Drive Aubrey, TX 5
    • 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 2015 5 beds 3 baths ∙ 2,353 Sqft ∙ Built 2015
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
PROPERTY LISTING DETAILS
Sascha Chatman
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418084
Last Updated: 08/23/2020
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