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941 Sam Street Springtown, TX 76082

3 Beds 2 Baths 1,600 sqft Built 2020

$250,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $156.25
  • 14 Days on Market
  • MLS # : 14460164
  • Updated Date : 11/04/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full
Listing Agent

5 Star Realty

Listing Agent's Description

Affordable and efficient packaged all in one! First time home buyers, starting a family, or downsizing? Imagine a neighborhood filled with fun and adventure. The yard is just the right size for easy maintenance and also endless entertainment. Home will come with 3rd party, StrucSure, 1-2-10 year warranty, FOAM INSULATION, privacy fence, gutters, tile showers and flooring. Estimated completion is end of November, 2020 Qualifies for USDA loan

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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: 76082

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76082

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8791734

* 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
Springtown Elementary School Primary Regular 508 33 6
Springtown Middle School Middle Regular 530 35 6
Springtown High School High Regular 912 72 5

Springtown Elementary School

  • Education Level: Primary
  • # of students: 508
  • # of teachers: 33
6
GreatSchools Rating

Springtown Middle School

  • Education Level: Middle
  • # of students: 530
  • # of teachers: 35
6
GreatSchools Rating

Springtown High School

  • Education Level: High
  • # of students: 912
  • # of teachers: 72
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$922
Property Tax -$520
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$251

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,250

INVESTMENT

$68,250

Down Payment
$62,500
Rehab Estimate
$2,000
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$679

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,408

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4103$1,450
$1,450
RENT COMPS ANALYSIS
  • 941 Sam Street Springtown, TX 2
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.88
    •  
  • 253 Firefly Drive Springtown, TX 1
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2007
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.70
    •  
  • 525 N Avenue B Springtown, TX 3
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2004
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
PROPERTY LISTING DETAILS
Sherryl Echols
5 Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460164
Last Updated: 11/04/2020
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