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9300 Tower Court Crowley, TX 76036

3 Beds 2 Baths 1,353 sqft Built 1997

$199,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $147.08
  • 4 Days on Market
  • MLS # : 14466184
  • Updated Date : 11/06/2020 at 10:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,353 sqft
  • Baths : 1 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Live your best life in this gorgeous single-level farmhouse home in the highly desirable Joshua ISD. Ideally situated on a corner lot in an established neighborhood w mature pine & pecan trees! Enjoy entertaining on the newly added dancefloor style patio accessed through French doors overlooking Texas-sized property. Relish in the serene yard while listening to the birds singing. Recent upgrades include roof w 30-year warranty, dual pane windows w lifetime warranty, HVAC, bamboo hardwoods, baseboards, & fresh paint. Approved for equestrian & livestock uses. Includes 2-horse stall barn w pipe corral fencing & sheds for extra storage space. Attached 2-car garage & 6-parking space driveway. Easy access to freeways

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: Oakridge Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k243k

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

Neighborhood: Oakridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9321734

* 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
North Joshua Elementary School Primary Regular 581 38 9
North Joshua Elementary School Middle Regular 581 38 9
Joshua Ninth Grade Campus High Regular 391 29 7

North Joshua Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

North Joshua Elementary School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$734
Property Tax -$349
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$93

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$199,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$20,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,434

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,700
$1,700
RENT COMPS ANALYSIS
  • 9300 Tower Court Crowley, TX 1
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.02
    •  
  • 1708 Valley View Road Crowley, TX 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1980
    LEASED 05/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
PROPERTY LISTING DETAILS
Felicia Barber
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466184
Last Updated: 11/06/2020
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