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102 Harley Meadows Circle Venus, TX 76084

4 Beds 2 Baths 1,901 sqft Built 2018

$240,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $126.25
  • 2 Days on Market
  • MLS # : 14469089
  • Updated Date : 11/14/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,901 sqft
  • Baths : 2 full
Listing Agent

Re/max Elite

Listing Agent's Description

Absolutely beautiful home NO HOA. Just two years young. Open floor plan with graceful archways between the main rooms. Great eat in kitchen with white shaker cabinets, granite counter tops and stainless steel appliances. Large center island and a coffee bar. Walk in pantry. Split bedroom arrangement. Hardwood type flooring through the main areas of the home. Warm cozy carpet in the bedrooms. Looking for a peaceful home away from the hustle bustle but still convenient to HWY 287 and 360! This is it WELCOME HOME.

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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: 76084

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9871734

* 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
Venus Elementary School Primary Regular 628 38 4
Venus Middle School Middle Regular 443 30 4
Venus High School High Regular 518 38 4

Venus Elementary School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 38
4
GreatSchools Rating

Venus Middle School

  • Education Level: Middle
  • # of students: 443
  • # of teachers: 30
4
GreatSchools Rating

Venus High School

  • Education Level: High
  • # of students: 518
  • # of teachers: 38
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$886
Property Tax -$610
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$128

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.

$240,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$23,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,815

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6453$1,7504$1,7955$1,860
$1,860
RENT COMPS ANALYSIS
  • 102 Harley Meadows Circle Venus, TX 5
    • 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,901 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.98
    •  
  • 140 Jefferson Drive Venus, TX 1
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2005
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 124 Lone Star Avenue Venus, TX 2
    • 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,719 Sqft ∙ Built 2009
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.96
    •  
  • 413 Fox Hollow Venus, TX 3
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 2003
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 416 Fieldstone Lane Venus, TX 4
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
PROPERTY LISTING DETAILS
Lucinda Gadson
Re/max Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469089
Last Updated: 11/14/2020
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