Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

9912 Concord Drive Providence Village, TX 76227

3 Beds 2 Baths 1,308 sqft Built 2005

INVESTimate

$215,000

List Price

$1,440

$1,296 - $1,584

Rent Est.

$236,135  ( +9.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $164.37
  • 5 Days on Market
  • MLS # : 14418201
  • Updated Date : 08/22/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,308 sqft
  • Baths : 2 full
Listing Agent

Cary Macey

Listing Agent's Description

Don't miss this adorable home in Providence Village! Nice curb appeal with front porch and landscaping, Open floor plan with recent updates throughout. Laminate wood floors in living and dining rooms, tile floors in entry, Kitchen, breakfast room and bathrooms. The kitchen is open to the living & Dining area with upgraded stainless steel appliances about a year old. Cozy breakfast nook that looks out to the awesome screened in porch and back yard! Split master bedroom with two nice walk in closets and jetted tub in master bath. Ceiling fans in all rooms and the garage flooring is epoxy treated for easy clean up. Hurry she's a cutie!

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

Neighborhood: Creek Village at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k336k

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

Neighborhood: Creek Village at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Monaco Elementary School Primary Regular 642 36 6
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Monaco Elementary School

  • Education Level: Primary
  • # of students: 642
  • # of teachers: 36
6
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$793
Property Tax -$460
Property Insurance -$103
HOA -$60
Property Management Fees -$99
CASH FLOW
-$75

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.

$215,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$5,885

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4403$1,4754$1,5755$1,600
$1,600
RENT COMPS ANALYSIS
  • 9912 Concord Drive Providence Village, TX 2
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.10
    •  
  • 9838 Cedarcrest Drive Providence Village, TX 1
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2003
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.18
    •  
  • 1713 Cambridge Drive Providence Village, TX 3
    • 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,195 Sqft ∙ Built 2005
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.23
    •  
  • 10001 Lexington Drive Providence Village, TX 4
    • 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 2005
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.20
    •  
  • 1741 Goodwin Drive Aubrey, TX 5
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2005
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.19
    •  
PROPERTY LISTING DETAILS
Cary Macey
Cary Macey
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418201
Last Updated: 08/22/2020
BESbswy