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1089 Cove Hollow Drive Cedar Hill, TX 75104

4 Beds 3 Baths 2,800 sqft Built 2002

$265,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $94.64
  • 6 Days on Market
  • MLS # : 14489800
  • Updated Date : 12/22/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ai Group Realty

Listing Agent's Description

This Beautiful Contempary home boasts amlpe space with 4 bedrooms, 2.5 baths, 2 living spaces and tons of NATURAL LIGHT. Features also include vaulted ceilings, granite island & newer appliances kitchen. Truly fantastic very large backyard that overlooks the beautiful large lake right behind the home. The location offers quick and easy access to shopping, schools, major highways & a 5 minute drive from Joe Pool Lake & walking distance to the beautiful park! THIS HOME IS PRICED BELOW MARKET!

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

Neighborhood: Winding Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Winding Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10121859

* 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
Waterford Oaks Elementary School Primary Regular 538 29 4
Bessie Coleman Middle School Middle Regular 588 35 4
Cedar Hill High School High Regular 1,731 105 2

Waterford Oaks Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 29
4
GreatSchools Rating

Bessie Coleman Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 35
4
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$978
Property Tax -$603
Property Insurance -$189
Property Management Fees -$99
CASH FLOW
$12

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.

$265,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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$200k$400k$600k$800k$1.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8803$1,8954$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1089 Cove Hollow Drive Cedar Hill, TX 2
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.67
    •  
  • 1029 Magnolia Lane Cedar Hill, TX 1
    • 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 2000
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 1036 Winding Creek Cedar Hill, TX 3
    • 5 beds 3 baths ∙ 3,006 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,006 Sqft ∙ Built 2000
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.63
    •  
  • 769 Lovern Street Cedar Hill, TX 4
    • 5 beds 3 baths ∙ 2,957 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,957 Sqft ∙ Built 2001
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.67
    •  
  • 1387 Calvert Drive Cedar Hill, TX 5
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2005
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
PROPERTY LISTING DETAILS
Alan Adams
Ai Group Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489800
Last Updated: 12/22/2020
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