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1018 Daylily Drive Northlake, TX 76226

3 Beds 3 Baths 2,955 sqft Built 2020

$442,035

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $149.59
  • 6 Days on Market
  • MLS # : 14472873
  • Updated Date : 11/17/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,955 sqft
  • Baths : 2 full , 1 half
Listing Agent

American Legend Homes

Listing Agent's Description

Canyon Falls in Northlake offers families outstanding schools and a location that offers an active lifestyle in a natural setting with parks, trails, dedicated woodlands and a near by lake. This neighborhood features a clubhouse with a club room, fitness center surrounded by a large community pool, splash pad and playground. At the center of the community the expansive and experiential Graham Branch Creek Preserve presents 200 acres of natural open space. A dog park, trail heads and 10 miles of nature trails and more complete this fantastic community.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Roanoke Elementary School Primary Regular 731 45 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$397,832$486,239$442,035

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$1,631
Property Tax -$879
Property Insurance -$198
HOA -$207
Property Management Fees -$99
CASH FLOW
-$14

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$442,035

PROJECTED PRICE

$3,000

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,139

INVESTMENT

$119,139

Down Payment
$110,509
Rehab Estimate
$2,000
Closing Costs
$6,631

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,631

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,509
Loan Amount $331,526
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$21,135

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $3,058

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9753$3,0004$3,1005$3,195
$3,195
RENT COMPS ANALYSIS
  • 1018 Daylily Drive Northlake, TX 3
    • 3 beds 3 baths ∙ 2,955 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,955 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.02
    •  
  • 6107 Prairie Brush Trail Northlake, TX 1
    • 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2017
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 1536 Eagleton Lane Northlake, TX 2
    • 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2018
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.98
    •  
  • 11413 Winecup Road Flower Mound, TX 4
    • 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.07
    •  
  • 1504 Monarch Trail Northlake, TX 5
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.09
    •  
PROPERTY LISTING DETAILS
Eric Stanley
American Legend Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472873
Last Updated: 11/17/2020
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