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1112 Diamond Leaf Northlake, TX 76226

4 Beds 4 Baths 3,618 sqft Built 2020

$689,370

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $190.54
  • 7 Days on Market
  • MLS # : 14520540
  • Updated Date : 02/26/2021 at 08:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,618 sqft
  • Baths : 4 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14520540 - Built by Highland Homes - August completion! ~ MODEL FLOOR PLAN: Amazing single story plan with four bedrooms, study, gameroom-entertainment combo all on one floor. 13ft ceilings in most living areas. Oversized master suite with large walk in closet. A Flex Gen Suite off of Bedroom #3. Large kitchen with 10ft island and extended cabinetry for more storage!

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$620,433$758,307$689,370

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,394
Property Tax -$1,371
Property Insurance -$246
HOA -$117
Property Management Fees -$99
CASH FLOW
-$1,286

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$689,370

PROJECTED PRICE

$2,940

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,683

INVESTMENT

$184,683

Down Payment
$172,343
Rehab Estimate
$2,000
Closing Costs
$10,341

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,394

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,343
Loan Amount $517,028
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$49

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,871

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,940
$2,940
RENT COMPS ANALYSIS
  • 1112 Diamond Leaf Northlake, TX 2
    • 4 beds 4 baths ∙ 3,778 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,778 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.78
    •  
  • 10901 Sandstone Drive Denton, TX 1
    • 3 beds 3 baths ∙ 3,698 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,698 Sqft ∙ Built 2006
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520540
Last Updated: 02/26/2021
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