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1009 Mountain Laurel Drive Euless, TX 76039

4 Beds 4 Baths 3,481 sqft Built 2016

$530,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $152.26
  • 3 Days on Market
  • MLS # : 14518676
  • Updated Date : 02/26/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,481 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

Wonderful 4 bedroom 3.5 bath home centrally located in the heart of DFW. The first floor provides an open kitchen concept that's great for entertaining and includes stainless steal appliances, double ovens, gas cooktop, generous cabinet space and walk in pantry. The first floor is complete with a formal dining room complimented by oversized barn doors, a spacious master suite and one additional bedroom and full bath that's convenient for guests. The second floor offers a large game room, media suit and two bedrooms adjoined by a jack and Jill bath. This home has amazing storage opportunities that include endless floored attic space. Freshly cleaned carpets and newly painted walls await you in this lovely home!

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: Villages of Bear Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k411k

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

Neighborhood: Villages of Bear Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9932137

* 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
Trinity High School High Regular 2,416 136 7

Trinity High School

  • Education Level: High
  • # of students: 2,416
  • # of teachers: 136
7
GreatSchools Rating
 

$477,000$583,000$530,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,841
Property Tax -$1,029
Property Insurance -$228
HOA -$54
Property Management Fees -$99
CASH FLOW
-$711

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.

$530,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$32

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,811

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5404$2,7955$3,200
$3,200
RENT COMPS ANALYSIS
  • 1009 Mountain Laurel Drive Euless, TX 3
    • 4 beds 4 baths ∙ 3,481 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,481 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.73
    •  
  • 604 Erica Lane Euless, TX 1
    • 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 305 Moonlight Drive Euless, TX 2
    • 3 beds 3 baths ∙ 3,300 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,300 Sqft ∙ Built 2006
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 605 Caribou Way Euless, TX 4
    • 3 beds 3 baths ∙ 3,468 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,468 Sqft ∙ Built 2003
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.81
    •  
  • 903 Red Maple Street Euless, TX 5
    • 4 beds 4 baths ∙ 3,545 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,545 Sqft ∙ Built 2016
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.90
    •  
PROPERTY LISTING DETAILS
Macy Williams
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518676
Last Updated: 02/26/2021
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