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1118 Berrydale Drive Northlake, TX 76226

5 Beds 4 Baths 3,602 sqft Built 2016

$469,000

List Price

$3,510

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $130.21
  • 3 Days on Market
  • MLS # : 14504525
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,602 sqft
  • Baths : 3 full , 1 half
Listing Agent

Worth Realty

Listing Agent's Description

Immaculate, like-new home in Canyon Falls walking distance from the park, pool & trails! This 2016 Putle built home includes builder and home owner upgrades! 5 bedrooms (5th bdrm has french doors and is a flex space), 3 full baths, a half bath, 2 dining areas, open concept living, game room and media room-there is space for everything and everyone! The tandem, 3 car garage opens up to a mud room and laundry room and there is a nook off of the breakfast area which is perfectly suited for a home office, learning station, dry bar or craft area. Large covered back patio and covered front porch allow for outdoor relaxation or fun! Media room accessories will convey. Fresh paint throughout. Tankless water heater.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Neighborhood: Canyon Falls

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
Roanoke Elementary School Primary Regular 731 45 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$3,159$3,861$3,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,510
EXPENSES Loan Payment -$1,629
Property Tax -$1,100
Property Insurance -$235
HOA -$207
Property Management Fees -$99
CASH FLOW
$239

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.

$469,000

PROJECTED PRICE

$3,510

PROJECTED RENT

0.75%

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) 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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$36,340

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,510

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $3,950

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$3,510
1$3,5102$3,6003$3,7004$3,700
$3,700
RENT COMPS ANALYSIS
  • 1118 Berrydale Drive Northlake, TX 1
    • 5 beds 4 baths ∙ 3,602 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,602 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,510
    • $0.97
    •  
  • 6637 Elderberry Way Flower Mound, TX 2
    • 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2018
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.05
    •  
  • 6600 Elderberry Way Flower Mound, TX 3
    • 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.12
    •  
  • 11459 Misty Ridge Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 2018
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Shannon Hathaway
Worth Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504525
Last Updated: 01/22/2021
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