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1101 Silver Creek Drive Desoto, TX 75115

3 Beds 4 Baths 2,956 sqft Built 2018

$425,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $143.78
  • 4 Days on Market
  • MLS # : 14517623
  • Updated Date : 02/25/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,956 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

OPEN HOUSE SATURDAY 2-27 FROM 1PM-3PM. VIEW VIRTUAL TOUR BEFORE SCHEDULING SHOWING. Beautifully built custom home on one acre city lot. This home has so much to offer you in the city Desoto. Home built in 2018 still like new. Home has 2956 sf. Open floor plan is great for entertaining. Has 3 bedrooms - owners retreat and large walk in bathroom. Media room is currently being used as 4th bedroom. 3 & 1 half baths, 2 living areas total with formal dining & family area. Kitchen has built in cabinets, walk in pantry, granite counter tops & stainless appliances. Bring your backyard dreams and design your own oasis for endless entertaining. Centrally located and closed to schools, shopping, and churches.

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: Shamrock Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k248k

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

Neighborhood: Shamrock Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451775

* 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
Ruby Young Elementary School Primary Regular 617 34 3
Desoto West Middle School Middle Regular 709 49 3

Ruby Young Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 34
3
GreatSchools Rating

Desoto West Middle School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 49
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,476
Property Tax -$1,016
Property Insurance -$198
Property Management Fees -$99
CASH FLOW
-$1,049

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.

$425,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.59

    LIST RENT PER SQFT
  • $2,069

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,7953$1,8004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1101 Silver Creek Drive Desoto, TX 1
    • 3 beds 4 baths ∙ 2,956 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,956 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.59
    •  
  • 1425 Gatlinburg Circle Desoto, TX 2
    • 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 2001
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 1205 Mountain Laurel Lane Desoto, TX 3
    • 4 beds 2 baths ∙ 2,610 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,610 Sqft ∙ Built 2002
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 1209 Devonshire Drive Desoto, TX 4
    • 4 beds 4 baths ∙ 2,891 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,891 Sqft ∙ Built 2002
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.66
    •  
  • 212 Balsam Grove Lane Desoto, TX 5
    • 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,612 Sqft ∙ Built 2002
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
PROPERTY LISTING DETAILS
Mike Williamson
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517623
Last Updated: 02/25/2021
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