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1111 Del Mar Drive Southlake, TX 76092

4 Beds 4 Baths 3,442 sqft Built 2003

$700,000

List Price

$4,260

$4K - $4.5K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $203.37
  • 4 Days on Market
  • MLS # : 14491998
  • Updated Date : 01/08/2021 at 10:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,442 sqft
  • Baths : 3 full , 1 half
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

This stunning home located in South lake features a beautiful kitchen with a wrap around bar and pendant lighting, a large family room with custom entertainment cabinets, Fabulous views into the backyard from entry, and Bedrooms all on first floor. Huge gameroom on the second floor with wetbar.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Triple C Ranch Southlake

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $123k842k

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

Neighborhood: Triple C Ranch Southlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q215002000250030003500400045005000Rent in $11265169

* 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
Durham Intermediate School Primary Regular 628 42 10
Carroll Middle School Middle Regular 659 44 10
Carroll Middle School High Regular 659 44 10

Durham Intermediate School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 42
10
GreatSchools Rating

Carroll Middle School

  • Education Level: Middle
  • # of students: 659
  • # of teachers: 44
10
GreatSchools Rating

Carroll Middle School

  • Education Level: High
  • # of students: 659
  • # of teachers: 44
10
GreatSchools Rating
 

$630,000$770,000$700,000

PURCHASE PRICE

$3,834$4,686$4,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,260
EXPENSES Loan Payment -$2,431
Property Tax -$1,413
Property Insurance -$226
Property Management Fees -$99
CASH FLOW
$91

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.

$700,000

PROJECTED PRICE

$4,260

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $175,000
Loan Amount $525,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$37,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,260

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $4,285

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$3,950
1$3,9502$4,0003$4,1004$4,2605$4,500
$4,500
RENT COMPS ANALYSIS
  • 1111 Del Mar Drive Southlake, TX 4
    • 4 beds 4 baths ∙ 3,442 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,442 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $4,260
    • $1.24
    •  
  • 2413 Taylor Street Southlake, TX 1
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1984
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.25
    •  
  • 405 Southview Trail Southlake, TX 2
    • 4 beds 4 baths ∙ 3,105 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,105 Sqft ∙ Built 1993
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.29
    •  
  • 805 Saratoga Drive Southlake, TX 3
    • 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 1994 5 beds 4 baths ∙ 3,400 Sqft ∙ Built 1994
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.21
    •  
  • 303 Chestnut Cove Circle Southlake, TX 5
    • 4 beds 4 baths ∙ 3,672 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,672 Sqft ∙ Built 1991
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.23
    •  
PROPERTY LISTING DETAILS
Jennifer Shindler
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491998
Last Updated: 01/08/2021
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