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1108 Verona Way Keller, TX 76248

4 Beds 4 Baths 3,485 sqft Built 2005

$493,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $141.46
  • 9 Days on Market
  • MLS # : 14456048
  • Updated Date : 10/26/2020 at 14:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,485 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

This lovely custom built home, with a stone and decorative brick facade, offers 3485 square feet of living space including four bedrooms, a study with French doors, hand-scraped hardwoods, wainscoting, and beam-coffered ceiling; a chef's kitchen with light granite and cabinets, large island, stainless appliances, and 4-burner gas cooktop; an oversized utility with built ins; an upstairs game room & media combo; and three-car garage with 3000 lb lift in the ceiling. Amenities include plantation shutters, custom ceilings and mud built-ins. Spacious master suite features bay windows and spa-inspired bathroom. Alfresco relaxation comes easy in the backyard under a covered patio with beautiful landscape and trees.

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: Bella Vista

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k493k

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

Neighborhood: Bella Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263358

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$443,700$542,300$493,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$1,819
Property Tax -$1,034
Property Insurance -$229
HOA -$50
Property Management Fees -$99
CASH FLOW
-$21

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.

$493,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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-$5.0k$0.0$5.0k$10k$15k

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$136,395

INVESTMENT

$136,395

Down Payment
$123,250
Rehab Estimate
$5,750
Closing Costs
$7,395

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,819

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,250
Loan Amount $369,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$24,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,232

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1903$3,2004$3,2005$3,210
$3,210
RENT COMPS ANALYSIS
  • 1108 Verona Way Keller, TX 5
    • 4 beds 4 baths ∙ 3,485 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,485 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $0.92
    •  
  • 1316 Ashmore Drive Keller, TX 1
    • 4 beds 4 baths ∙ 3,362 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,362 Sqft ∙ Built 2002
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.89
    •  
  • 1545 Briar Meadow Drive Keller, TX 2
    • 4 beds 4 baths ∙ 3,317 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,317 Sqft ∙ Built 1998
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.96
    •  
  • 1212 Elmgrove Lane Keller, TX 3
    • 5 beds 3 baths ∙ 3,407 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,407 Sqft ∙ Built 2001
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.94
    •  
  • 1416 Briar Meadow Drive Keller, TX 4
    • 5 beds 3 baths ∙ 3,483 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,483 Sqft ∙ Built 1996
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Chad Collins
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14456048
Last Updated: 10/26/2020
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