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965 Sam Street Springtown, TX 76082

3 Beds 2 Baths 1,799 sqft Built 2020

$254,700

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $141.58
  • 4 Days on Market
  • MLS # : 14490458
  • Updated Date : 12/26/2020 at 11:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,799 sqft
  • Baths : 2 full
Listing Agent

Indwell

Listing Agent's Description

The builder takes pride on this new construction. Features include 10' ceilings in living room and master suite, stainless steel appliances, open style kitchen with large island, walk in kitchen pantry, spacious laundry room with additional storage, natural stone counter tops throughout, premium flooring, custom cabinets and much more. Great location minutes from historic downtown Springtown and many restaurants. Make it yours before it's gone!

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: 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
 

$229,230$280,170$254,700

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$940
Property Tax -$529
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$429

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.

$254,700

PROJECTED PRICE

$1,270

PROJECTED RENT

0.50%

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-$8.0k-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0

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$69,496

INVESTMENT

$69,496

Down Payment
$63,675
Rehab Estimate
$2,000
Closing Costs
$3,821

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,675
Loan Amount $191,025
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,259

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,350
$1,350
RENT COMPS ANALYSIS
  • 965 Sam Street Springtown, TX 1
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.71
    •  
  • 253 Firefly Drive Springtown, TX 2
    • 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
    •  
PROPERTY LISTING DETAILS
Vianey Suarez
Indwell
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490458
Last Updated: 12/26/2020
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