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113 Cliffside Drive Burleson, TX 76028

3 Beds 2 Baths 2,680 sqft Built 1984

INVESTimate

$364,900

List Price

$1,990

$1,791 - $2,189

Rent Est.

$392,049  ( +7.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $136.16
  • 3 Days on Market
  • MLS # : 14418585
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,680 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 3-2-2 home heavily treed with a sparkling pool out back! This home has beautiful curb appeal with spectacular landscaping and wood flooring throughout most of the home. Canopy of trees, side entry garage and 19x11 storage building with a roll up door out back . The living area features a cozy fireplace and is open to dining. Kitchen features a breakfast bar, granite countertops, all electric and cute pendant lighting! Master bedroom is huge and features dual closets, jetted tub, dual vanities & separate shower! Second living area and bonus room to provide plenty of room for everyone! The play pool pool has pebbletech finish, spa area & is ready for you to splash in!!!

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: The Cliffs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: The Cliffs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mound Elementary School Primary Regular 424 29 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Mound Elementary School

  • Education Level: Primary
  • # of students: 424
  • # of teachers: 29
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$328,410$401,390$364,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,346
Property Tax -$912
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
-$549

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.

$364,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.44%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$14

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,050

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9903$2,1254$2,2005$2,399
$2,399
RENT COMPS ANALYSIS
  • 113 Cliffside Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 2,680 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,680 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.74
    •  
  • 324 Snapdragon Court Burleson, TX 1
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 336 Daisy Lane Burleson, TX 3
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2004
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.75
    •  
  • 1401 Blue Quail Run Crowley, TX 4
    • 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2002
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 200 Flagstone Drive Burleson, TX 5
    • 4 beds 3 baths ∙ 2,726 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,726 Sqft ∙ Built 2004
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.88
    •  
PROPERTY LISTING DETAILS
Karan Wethington
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418585
Last Updated: 08/25/2020
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