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951 Winepress Road Burleson, TX 76028

4 Beds 2 Baths 2,171 sqft Built 2006

$250,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $115.15
  • 3 Days on Market
  • MLS # : 14492975
  • Updated Date : 01/01/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,171 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Move in ready in the heart of Burleson, TX! Located near shopping, restaurants, parks, walking trails, golf courses, wineries, and all major highways. This home has it all featuring 4 spacious bedrooms, 2 bathrooms, a formal dinning room that could be used as your office, solar screens and don't forget to check out the covered back patio. Enjoy the back yard with a dog run, fan on the covered patio, and garden beds.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Vinewood West

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Neighborhood: Vinewood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Clinkscale Elementary School Primary Regular 589 37 7
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

Clinkscale Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 37
7
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$922
Property Tax -$599
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
$197

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.

$250,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.8%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% 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

8.25

YEARS SAVED

$31,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,9703$2,2004$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 951 Winepress Road Burleson, TX 2
    • 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,171 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.91
    •  
  • 1006 Thistle Meade Circle Burleson, TX 1
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 340 Pecos Drive Burleson, TX 3
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
  • 308 Delaware Street Burleson, TX 4
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2010
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 1683 St Croix Street Burleson, TX 5
    • 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,375 Sqft ∙ Built 2013
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.95
    •  
PROPERTY LISTING DETAILS
Christie Bray
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492975
Last Updated: 01/01/2021
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