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109 Brock Lane Millsap, TX 76066

4 Beds 2 Baths 2,418 sqft Built 2016

$425,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $175.77
  • 4 Days on Market
  • MLS # : 14469772
  • Updated Date : 11/13/2020 at 16:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,418 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Dream yard, dream house and dream shop! SO many upgrades on this property! Huge extended, covered, screened in patio gives you an amazing outdoor living space. Impeccably cared for home, and you will feel the quality the moment you walk in. Gorgeous chef's kitchen with ample countertop space and storage, new glass subway tile backsplash. Custom dual panel blinds, solar screens on the east and west. Beautifully landscaped with drip system! Upgraded, embossed wood plank laminate flooring adds to the luxury feel of this home. 24x50 spray foamed shop, interior painted wi 110 and 50amp, 14x14 bay door and 16'side walls. Kenmark built in a fantastic neighborhood close to the award winning BROCK schools!

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: 76066

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k273k

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

Zip Code: 76066

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10411734

* 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
Brock Elementary School Primary Regular 552 34 5
Brock Middle School Middle Regular 271 18 7
Brock High School High Regular 352 28 8

Brock Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 34
5
GreatSchools Rating

Brock Middle School

  • Education Level: Middle
  • # of students: 271
  • # of teachers: 18
7
GreatSchools Rating

Brock High School

  • Education Level: High
  • # of students: 352
  • # of teachers: 28
8
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,568
Property Tax -$825
Property Insurance -$167
HOA -$25
Property Management Fees -$99
CASH FLOW
-$234

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.

$425,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,476

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,628

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,7503$2,8004$2,850
$2,850
RENT COMPS ANALYSIS
  • 109 Brock Lane Millsap, TX 1
    • 4 beds 2 baths ∙ 2,418 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,418 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
  • 130 Brock Lane Millsap, TX 2
    • 4 beds 4 baths ∙ 2,498 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,498 Sqft ∙ Built 2016
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.10
    •  
  • 130 Esther Court Millsap, TX 3
    • 4 beds 2 baths ∙ 2,600 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,600 Sqft ∙ Built 2019
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.08
    •  
  • 126 Esther Millsap, TX 4
    • 4 beds 2 baths ∙ 2,648 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,648 Sqft ∙ Built 2019
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.08
    •  
PROPERTY LISTING DETAILS
Heather Kingston
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469772
Last Updated: 11/13/2020
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