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940 Highpoint Way Roanoke, TX 76262

4 Beds 3 Baths 3,459 sqft Built 2015

$589,900

List Price

$3,240

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $170.54
  • 4 Days on Market
  • MLS # : 14465950
  • Updated Date : 11/05/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,459 sqft
  • Baths : 3 full
Listing Agent

Dfw Legacy Group

Listing Agent's Description

Outdoor Oasis with large custom pool, spa, water features and built in grill area! This 4 bedroom 3 bath Highland home is immaculate and ready for a new owner! This show stopping home has oversized bedrooms, bathrooms, and gameroom. Relax in your theater like media room that is perfect for a large screen. XL garage has the epoxy floor and lots of storage space. All of this in Fairway Ranch subdivision which includes a community pool, fishing pond, walking trails and award winning Northwest ISD Cox Elementary school.

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

Zip Code: 76262

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k430k

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

Zip Code: 76262

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262792

* 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
Cox Elementary Primary Unknown NA
John M. Tidwell Middle School Middle Regular 1,048 65 8

Cox Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

John M. Tidwell Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 65
8
GreatSchools Rating
 

$530,910$648,890$589,900

PURCHASE PRICE

$2,916$3,564$3,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,240
EXPENSES Loan Payment -$2,176
Property Tax -$1,028
Property Insurance -$227
HOA -$63
Property Management Fees -$99
CASH FLOW
-$354

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.

$589,900

PROJECTED PRICE

$3,240

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$162,074

INVESTMENT

$162,074

Down Payment
$147,475
Rehab Estimate
$5,750
Closing Costs
$8,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,176

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,475
Loan Amount $442,425
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$9,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,240

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,442

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2403$3,4004$3,5005$3,900
$3,900
RENT COMPS ANALYSIS
  • 940 Highpoint Way Roanoke, TX 2
    • 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,240
    • $0.94
    •  
  • 15028 Seventeen Lakes Boulevard Fort Worth, TX 1
    • 5 beds 4 baths ∙ 3,526 Sqft ∙ Built 2014 5 beds 4 baths ∙ 3,526 Sqft ∙ Built 2014
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.91
    •  
  • 1064 Highpoint Way Roanoke, TX 3
    • 4 beds 4 baths ∙ 3,491 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,491 Sqft ∙ Built 2016
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.97
    •  
  • 959 Champions Way Roanoke, TX 4
    • 4 beds 3 baths ∙ 3,327 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,327 Sqft ∙ Built 2014
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.05
    •  
  • 915 Highpoint Way Roanoke, TX 5
    • 5 beds 4 baths ∙ 3,725 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,725 Sqft ∙ Built 2015
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,900
    • $1.05
    •  
PROPERTY LISTING DETAILS
Letta Burger
Dfw Legacy Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465950
Last Updated: 11/05/2020
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