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10153 Wandering Way Street Benbrook, TX 76126

3 Beds 2 Baths 2,374 sqft Built 1985

$235,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $98.99
  • 7 Days on Market
  • MLS # : 14459885
  • Updated Date : 10/28/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,374 sqft
  • Baths : 2 full
Listing Agent

The Michael Group

Listing Agent's Description

Charming home in a beautiful neighborhood awaiting your personal updates and is in great shape. This floor plan has a nice flow for entertaining with a pretty dining room open to the living area. Nice size rooms! And oversized secondary bedroom closets! The master is large as well! Hurry! Priced just right, this one will go 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: Westpark Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k473k

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

Neighborhood: Westpark Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9661734

* 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
Westpark Elementary School Primary Regular 484 25 8
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating

Benbrook Middle High School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating

Benbrook Middle High School

  • Education Level: High
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$867
Property Tax -$528
Property Insurance -$164
Property Management Fees -$99
CASH FLOW
$422

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.

$235,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

12.83

YEARS SAVED

$55,473

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,338

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0803$2,125
$2,125
RENT COMPS ANALYSIS
  • 10153 Wandering Way Street Benbrook, TX 2
    • 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,374 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.88
    •  
  • 10613 Whitestone Ranch Road Benbrook, TX 1
    • 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 2002
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 10104 Locksley Drive Benbrook, TX 3
    • 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,056 Sqft ∙ Built 1978
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $1.03
    •  
PROPERTY LISTING DETAILS
Misty Martin
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459885
Last Updated: 10/28/2020
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