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1117 Darren Drive Burleson, TX 76028

3 Beds 2 Baths 1,575 sqft Built 1999

$225,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $142.86
  • 4 Days on Market
  • MLS # : 14517195
  • Updated Date : 02/11/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 2 full
Listing Agent

M J Properties Inc.

Listing Agent's Description

Cute and clean 3 bedroom 2 bath home with fresh paint, updated floors and so much more. Enjoy the cozy living room with corner fireplace, bonus area that can be used formal dining, second living room and so much more. Large panty, laundry mud room off the kitchen. The nice kitchen opens into the breakfast area. Large master bedroom with separate shower and garden tub. This is a great home that will not last.

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: Keswick Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k258k

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

Neighborhood: Keswick Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Norwood Elementary School Primary Regular 437 30 3
Centennial High School High Unknown NA

Norwood Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 30
3
GreatSchools Rating

Centennial High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$782
Property Tax -$539
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
-$158

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.

$225,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,484

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3803$1,3954$1,4005$1,595
$1,595
RENT COMPS ANALYSIS
  • 1117 Darren Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.88
    •  
  • 816 Judith Street Burleson, TX 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1981
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 254 Vaden Avenue Burleson, TX 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2001
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 271 Vaden Avenue Burleson, TX 4
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2000
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 1009 Winepress Road Burleson, TX 5
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2005
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
PROPERTY LISTING DETAILS
Misty Allred
M J Properties Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517195
Last Updated: 02/11/2021
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