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979 Hwy 6 Lot 5 Nevada, TX 75173

3 Beds 2 Baths 1,809 sqft Built 2021

$302,760

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $167.36
  • 5 Days on Market
  • MLS # : 14502992
  • Updated Date : 01/20/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,809 sqft
  • Baths : 2 full
Listing Agent

Rw Properties

Listing Agent's Description

**To Be Built!** Brand New Half Acre+ Lots at New Neighborhood in Nevada! 6 Months Estimated Build time from Contract. Multiple Lots with Larger and Smaller Plans Available! Community ISD. High Energy Efficient Builder with Wall and Ceiling Foam Insulation, up to 15 Seer HVAC, and Low E Windows! Homes can be All Electric or Propane Option. Aerobic Septic. Sprinkler System. Fireplace is Optional. Multiple Options for Paint, Carpet, Tile, Backsplash, and Granite. Upgraded Wood Flooring is Available. 10 Year Structural Warranty on Foundation. This Lot 5 Plan includes 3 Beds + Office!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k338k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10451741

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$272,484$333,036$302,760

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,052
Property Tax -$460
Property Insurance -$132
HOA -$17
Property Management Fees -$99
CASH FLOW
-$249

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$302,760

PROJECTED PRICE

$1,510

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 3.00%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,231

INVESTMENT

$82,231

Down Payment
$75,690
Rehab Estimate
$2,000
Closing Costs
$4,541

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,690
Loan Amount $227,070
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,501

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,550
$1,550
RENT COMPS ANALYSIS
  • 979 Hwy 6 Lot 5 Nevada, TX 1
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.83
    •  
  • 6985 Meadow Ridge Circle Nevada, TX 2
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ryan Ward
Rw Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502992
Last Updated: 01/20/2021
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