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1040 Mercury Drive Lavon, TX 75166

3 Beds 2 Baths 1,516 sqft Built 2013

$248,800

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $164.12
  • 5 Days on Market
  • MLS # : 14483124
  • Updated Date : 12/09/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,516 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Light, Bright and Ready For You! Features great open floor plan, updated carpet in living area, 42 inch wooden cabinets in kitchen, ceramic tile back splash, refrigerator to remain, spacious master and bath that includes separate shower, garden tub, walk-in closet and dual sinks. Inviting living area with corner fireplace, views to backyard, open patio...See It Today!!!

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$223,920$273,680$248,800

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$918
Property Tax -$478
Property Insurance -$115
HOA -$67
Property Management Fees -$99
CASH FLOW
-$116

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.

$248,800

PROJECTED PRICE

$1,560

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$71,682

INVESTMENT

$71,682

Down Payment
$62,200
Rehab Estimate
$5,750
Closing Costs
$3,732

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,200
Loan Amount $186,600
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,371

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,5953$1,6754$1,725
$1,725
RENT COMPS ANALYSIS
  • 1040 Mercury Drive Lavon, TX 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.03
    •  
  • 590 Arthur Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 520 Harding Lane Lavon, TX 3
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
  • 650 Langdon Street Lavon, TX 4
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2018
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.13
    •  
PROPERTY LISTING DETAILS
Shawn Wright
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483124
Last Updated: 12/09/2020
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