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1115 Tarpley Avenue Dallas, TX 75211

5 Beds 4 Baths 3,470 sqft Built 2007

$399,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $114.99
  • 7 Days on Market
  • MLS # : 14480820
  • Updated Date : 12/06/2020 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,470 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mersaes Real Estate, Inc.

Listing Agent's Description

Beautiful home offers features that many families look for: ceramic in all floors down stairs and bamboo planks up stairs, no carpet, 2 masters, one downstairs & one upstairs. All bedrooms are huge, with walk-in closets & ceiling fans. Spacious open floor perfect for entertainment, plenty of parking space for your guess. The house has light color painted walls with bull nose corners, recessive ceilings and pine wood baseboards. Arches & columns separate the formal living-dining. The wood staircase with metal ornament railing will lead you to the 2nd floor. After the dinning there is a big 2nd living area next to the huge kitchen that has real wood cabinets, granite countertops and glass & ceramic back splash.

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: Winnetka Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $65k243k

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

Neighborhood: Winnetka Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6661734

* 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
Celestino Mauricio Soto Jr. Elementary School Primary Regular 689 48 4
Celestino Mauricio Soto Jr. Elementary School Middle Regular 689 48 4
Moises E. Molina High School High Regular 2,099 122 3

Celestino Mauricio Soto Jr. Elementary School

  • Education Level: Primary
  • # of students: 689
  • # of teachers: 48
4
GreatSchools Rating

Celestino Mauricio Soto Jr. Elementary School

  • Education Level: Middle
  • # of students: 689
  • # of teachers: 48
4
GreatSchools Rating

Moises E. Molina High School

  • Education Level: High
  • # of students: 2,099
  • # of teachers: 122
3
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$1,472
Property Tax -$946
Property Insurance -$228
Property Management Fees -$99
CASH FLOW
$275

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.

$399,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 14.0%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$45,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $4,823

    COMP ESTIMATED VALUE
  • $1.39

    COMP AVG. RENT PER SQFT
Comps Range
$3,020
1$3,0202$4,500
$4,500
RENT COMPS ANALYSIS
  • 1115 Tarpley Avenue Dallas, TX 1
    • 5 beds 4 baths ∙ 3,470 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,470 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $0.87
    •  
  • 731 N Oak Cliff Boulevard Dallas, TX 2
    • 4 beds 5 baths ∙ 3,249 Sqft ∙ Built 2019 4 beds 5 baths ∙ 3,249 Sqft ∙ Built 2019
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.39
    •  
PROPERTY LISTING DETAILS
Allan Rourk
Mersaes Real Estate, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480820
Last Updated: 12/06/2020
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