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1063 Shepard Lane Lavon, TX 75166

4 Beds 3 Baths 2,303 sqft Built 2009

$275,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $119.41
  • 2 Days on Market
  • MLS # : 14470683
  • Updated Date : 11/14/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,303 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This wonderful home features a flexible floor plan perfect for working and schooling from home. The Foyer showcases a soaring ceiling and easy-care laminate flooring that flows into the Formal Dining and Family Rooms. The open Kitchen boasts a mosaic tile backsplash, pantry and upgraded stainless appliances including a gas range. The downstairs Master Suite has a nicely appointed bath with dual sinks, garden tub and large shower. The upstairs Game Room has custom built-ins and walk-in attic access. There's also a fireplace with a gas starter, convenient Powder Bath, sprinkler system, shed and much more! Grand Heritage offers resort style amenities including pools, splash park, trails, playground and clubhouse.

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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,015
Property Tax -$528
Property Insurance -$160
HOA -$67
Property Management Fees -$99
CASH FLOW
-$38

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.

$275,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.67%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,7954$1,8305$1,895
$1,895
RENT COMPS ANALYSIS
  • 1063 Shepard Lane Lavon, TX 4
    • 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,303 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.79
    •  
  • 951 Bowie Drive Lavon, TX 1
    • 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,110 Sqft ∙ Built 2007
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 518 Langdon Street Lavon, TX 2
    • 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2018
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 869 Crockett Drive Lavon, TX 3
    • 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2006
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 804 Crockett Drive Lavon, TX 5
    • 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,298 Sqft ∙ Built 2006
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.82
    •  
PROPERTY LISTING DETAILS
Lorilee Litherland
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 #: 14470683
Last Updated: 11/14/2020
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