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1104 Rio Vista Drive Desoto, TX 75115

3 Beds 2 Baths 2,161 sqft Built 2014

$289,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $134.15
  • 3 Days on Market
  • MLS # : 14540931
  • Updated Date : 03/26/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,161 sqft
  • Baths : 2 full
Listing Agent

Millennium Realtors

Listing Agent's Description

Come see this 1 owner, meticulously kept, D.R. Horton built property that features a spacious family room. This property boasts of a large gourmet kitchen with granite counter tops, a breakfast bar, island, walk-In pantry and a skylight that allows natural light in the kitchen. Relax after work in large owner's retreat with dual sink vanity, large garden tub and large walk in closet. There is a flex room at the front of the home that can be used as a home office, dining room or 2nd living area. This home also feature an oversized 2.5 car garage. This community a short drive to downtown Dallas, shopping, entertainment and close to the major freeways of I-20 and I-35E.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451741

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,007
Property Tax -$693
Property Insurance -$152
HOA -$17
Property Management Fees -$99
CASH FLOW
-$298

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.

$289,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$231

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6703$1,8004$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 1104 Rio Vista Drive Desoto, TX 2
    • 3 beds 2 baths ∙ 2,161 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,161 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.77
    •  
  • 608 Skyflower Court Desoto, TX 1
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.81
    •  
  • 1205 Beeblossom Drive Desoto, TX 3
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2003
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 701 Horseshoe Court Desoto, TX 4
    • 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2005
    LEASED 03/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 720 Jewelflower Drive Desoto, TX 5
    • 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 2016
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
PROPERTY LISTING DETAILS
Dorman Nelson
Millennium Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540931
Last Updated: 03/26/2021
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