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Tbd Fm 75 Princeton, TX 75407

4 Beds 3 Baths 2,721 sqft Built 2021

$445,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $163.54
  • 9 Days on Market
  • MLS # : 14519927
  • Updated Date : 02/22/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,721 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

1 Acre lot 15 Minutes from McKinney,Right down the road from Caldwell Park,& around the corner from Dining,shopping & Easy Access to 380!AMAZING opportunity to build your dream home.Farmhouse chic w white Veritical painted siding brick accents & covered front porch.Kitchen w white shaker cabinets,farm sink,granite counters,ss appl & lg island.Spacious liviing area with Wood Burning Fireplace. Wood look tile throughout the lower levelStill time to make floor plan changes along with structural modifications with builder approval. Approx. build time 7-8 months with Weather permitting and availablility of supplies.

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: 75407

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k243k

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

Zip Code: 75407

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8671734

* 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
Lacy Elementary School Primary Regular 695 47 6
Clark Junior High School Middle Regular 540 33 8
Princeton High School High Regular 1,048 67 6

Lacy Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 47
6
GreatSchools Rating

Clark Junior High School

  • Education Level: Middle
  • # of students: 540
  • # of teachers: 33
8
GreatSchools Rating

Princeton High School

  • Education Level: High
  • # of students: 1,048
  • # of teachers: 67
6
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,546
Property Tax -$927
Property Insurance -$184
Property Management Fees -$99
CASH FLOW
-$776

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.

$445,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,925

INVESTMENT

$119,925

Down Payment
$111,250
Rehab Estimate
$2,000
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9804$1,9905$2,199
$2,199
RENT COMPS ANALYSIS
  • Tbd Fm 75 Princeton, TX 3
    • 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,721 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.73
    •  
  • 1122 Grace Drive Princeton, TX 1
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 2138 Meadow View Drive Princeton, TX 2
    • 5 beds 3 baths ∙ 2,586 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,586 Sqft ∙ Built 2014
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.73
    •  
  • 1004 Churchill Drive Princeton, TX 4
    • 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,630 Sqft ∙ Built 2018
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.76
    •  
  • 636 Maple Leaf Way Princeton, TX 5
    • 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020 5 beds 3 baths ∙ 3,060 Sqft ∙ Built 2020
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.72
    •  
PROPERTY LISTING DETAILS
Heather Tinglov
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519927
Last Updated: 02/22/2021
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