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1037 Bumble Bee Drive Lancaster, TX 75134

5 Beds 3 Baths 3,453 sqft Built 2006

$250,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $72.40
  • 1 Days on Market
  • MLS # : 14497266
  • Updated Date : 01/09/2021 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,453 sqft
  • Baths : 3 full
Listing Agent

Ernest Jakes

Listing Agent's Description

LOTS OF ROOM TO GROW! Very well maintained home located here in Lancaster! 5 bedrooms, 3 bath, 2 Rear entry garage with a sliding gate creating more privacy. Large gameroom or living space on the second floor, open concept from the kitchen onto the living room and fireplace. Motivated seller, owner is relocating.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Meadowview

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadowview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Houston Elementary School Primary Regular 681 37 5
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Houston Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 37
5
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$868
Property Tax -$636
Property Insurance -$227
Property Management Fees -$99
CASH FLOW
$180

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.

$250,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
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-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$22,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $2,037

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0103$2,150
$2,150
RENT COMPS ANALYSIS
  • 1037 Bumble Bee Drive Lancaster, TX 2
    • 5 beds 3 baths ∙ 3,453 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,453 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.58
    •  
  • 1009 Blackberry Trail Lancaster, TX 1
    • 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 2005
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.59
    •  
  • 2827 Amber Waves Lane Lancaster, TX 3
    • 5 beds 3 baths ∙ 3,648 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,648 Sqft ∙ Built 2007
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.59
    •  
PROPERTY LISTING DETAILS
Gabriela Mares
Ernest Jakes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497266
Last Updated: 01/09/2021
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