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1012 Cold Spring Court Mesquite, TX 75181

3 Beds 2 Baths 1,502 sqft Built 1987

$255,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $169.77
  • 6 Days on Market
  • MLS # : 14462256
  • Updated Date : 10/29/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Beautiful home nestled in the back of quiet neighborhood. Sits on quiet cul de sac lot. Backyard is perfect place to relax, lounge in the pool, and listening to nature. And the pool is heated so year round enjoyment. Tons of updates include complete pool remodel, fence, exterior stairs and railing, roof, AC, water heater, solar screens, and sprinkler system. Super open floorplan with wood floors through most of home, new carpet in secondary bedrooms. kitchen and bathroom remodels with stainless steel appliances, upgraded counters and backsplash, light fixtures, plumbing fixtures, and so much more. Must see will sell fast

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: Valleycreek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Valleycreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Gentry Elementary School Primary Regular 820 49 7
Gentry Elementary School Middle Regular 820 49 7
John Horn High School High Regular 2,284 140 4

Gentry Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 49
7
GreatSchools Rating

Gentry Elementary School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 49
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$941
Property Tax -$618
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$172

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.

$255,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 14.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,468

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4953$1,5004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 1012 Cold Spring Court Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 1429 Rutherford Mesquite, TX 1
    • 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,384 Sqft ∙ Built 1979
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 2633 Pandale Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2004
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 1633 Bette Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1980
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 900 Bridgewater Lane Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1986
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
PROPERTY LISTING DETAILS
Maria Ammerman
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462256
Last Updated: 10/29/2020
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