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1107 Edith Circle Richardson, TX 75080

4 Beds 3 Baths 2,744 sqft Built 1980

$549,900

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $200.40
  • 4 Days on Market
  • MLS # : 14517280
  • Updated Date : 02/12/2021 at 18:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,744 sqft
  • Baths : 3 full
Listing Agent

Paragon Realtors

Listing Agent's Description

MULTIPLE OFFERS RECEIVED; Submission Deadline Sunday, February 14 at 12:00pm. Beautifully updated home in quiet JJ Pearce neighborhood. Flexible floor plan, large fourth bedroom could easily serve as a second living area. Gorgeous hand scraped hardwood floors throughout. Updated kitchen with stainless appliances, great cabinet, counter space. Huge living room with fireplace, built-ins. Master suite with updated bathroom, dual sinks, bathtub, open shower, two walk-in closets. Secondary bedrooms have nice closets and share Jack and Jill type bath. Large, covered backyard patio, nicely landscaped with full sprinkler system. Wonderful property that is completely move-in ready!

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: J.J. Pearce

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k490k

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

Neighborhood: J.J. Pearce

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262721

* 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
Richardson North Junior High School Middle Regular 649 43 7
Pearce High School High Regular 2,253 144 6
Richardson North Junior High School Middle Unknown NA

Richardson North Junior High School

  • Education Level: Middle
  • # of students: 649
  • # of teachers: 43
7
GreatSchools Rating

Pearce High School

  • Education Level: High
  • # of students: 2,253
  • # of teachers: 144
6
GreatSchools Rating

Richardson North Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,910
Property Tax -$1,284
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
-$869

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.

$549,900

PROJECTED PRICE

$2,610

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,614

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3503$2,4004$2,5955$2,610
$2,610
RENT COMPS ANALYSIS
  • 1107 Edith Circle Richardson, TX 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.95
    •  
  • 1211 Seminole Drive Richardson, TX 1
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1967 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1967
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 16361 Lauder Lane Dallas, TX 2
    • 4 beds 5 baths ∙ 2,450 Sqft ∙ Built 1980 4 beds 5 baths ∙ 2,450 Sqft ∙ Built 1980
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 1128 Stratford Drive Richardson, TX 3
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 1978
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 1329 Melrose Richardson, TX 4
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1972
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.07
    •  
PROPERTY LISTING DETAILS
Alan Hamilton
Paragon Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517280
Last Updated: 02/12/2021
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