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1101 Hanover Drive Euless, TX 76040

3 Beds 2 Baths 1,544 sqft Built 1990

$255,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $165.16
  • 3 Days on Market
  • MLS # : 14299302
  • Updated Date : 02/13/2021 at 23:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Skrasek-withrow Realty

Listing Agent's Description

Updated & well maintained One Story Home w Great Floor Plan! Large Arched Entry. 3-2-2 w WBFP. Split Bdrms. Each Bdrm has Walk-In closet! Gorgeous Updated Laminate Wood Floors. Fresh Ext. & Int. Paint! (inc Trim & Doors) Recent Double Hung Windows & Designer Carpet! Updated Modern Light Fixtures, Faucets & Showerheads. Abundant Natural Light. Spacious Den has Cathedral Ceiling. Large Eat-In Kitchen w Breakfast Nook. Upgraded Bosch Dishwasher & Stainless Range. Sep Dining Rm off Kit. Master Bdrm has Raised Ceiling & overlooks Backyard. Master Bath-Dual Sinks, Jetted Tub & Sep Shower. Corner Lot. Full Sprinkler Sys. Drought Tolerant Plants! Quiet secluded Backyard w open Patio. Close to DFW Airport & HEB Hosp

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: 76040

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Zip Code: 76040

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9471808

* 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
Trinity High School High Regular 2,416 136 7

Trinity High School

  • Education Level: High
  • # of students: 2,416
  • # of teachers: 136
7
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$886
Property Tax -$495
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
$54

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.

$255,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.5%
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-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$15,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6503$1,6504$1,6855$1,700
$1,700
RENT COMPS ANALYSIS
  • 1101 Hanover Drive Euless, TX 3
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 1202 Trenton Lane Euless, TX 1
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1990
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $1.09
    •  
  • 1210 Trenton Lane Euless, TX 2
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1989
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 1107 Middlebury Lane Euless, TX 4
    • 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 1992
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.09
    •  
  • 1204 Saratoga Drive Euless, TX 5
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1988
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
PROPERTY LISTING DETAILS
Ada Marie Withrow
Skrasek-withrow Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14299302
Last Updated: 02/13/2021
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