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1130 Sunset Lane Richardson, TX 75080

4 Beds 4 Baths 2,769 sqft Built 2015

INVESTimate

$500,000

List Price

$2,850

$2,600 - $3,100

Rent Est.

$542,550  ( +8.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $180.57
  • 6 Days on Market
  • MLS # : 14412011
  • Updated Date : 08/25/2020 at 13:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,769 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Relaxed living at it's finest in Richardson ISD. Offering 4 BR 3.1 BA w. 2 living areas & a study. This meticulously maintained David Weekely home in gated community boasts a tons of upgrades, gorgeous iron front door, wood flooring, 4th BR suite, & study. Kitchen upgrades include, under cabinet lighting, SS Appliances, glass front cabinets, wine fridge, herringbone marble back splash & designer light fixtures. 1st floor master has en suite bath w. dual vessel sinks, large walk in shower & huge walk-in closet. 2nd floor boasts game room, 3 bedrooms, one w. a private bath, perfect for the in-laws. Easy to maintain back yard. Close proximity to UTD Campus & shopping & dining. Neighborhood even has a dog park!

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: Richardson

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Richardson

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262872

* 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
Mohawk Elementary School Primary Regular 411 26 10
Mohawk Elementary School Middle Regular 411 26 10
Pearce High School High Regular 2,253 144 6

Mohawk Elementary School

  • Education Level: Primary
  • # of students: 411
  • # of teachers: 26
10
GreatSchools Rating

Mohawk Elementary School

  • Education Level: Middle
  • # of students: 411
  • # of teachers: 26
10
GreatSchools Rating

Pearce High School

  • Education Level: High
  • # of students: 2,253
  • # of teachers: 144
6
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$1,845
Property Tax -$1,167
Property Insurance -$187
HOA -$158
Property Management Fees -$99
CASH FLOW
-$607

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.

$500,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.51%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$178

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $3,157

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,1003$3,2504$3,2955$3,300
$3,300
RENT COMPS ANALYSIS
  • 1130 Sunset Lane Richardson, TX 1
    • 4 beds 4 baths ∙ 2,769 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,769 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.03
    •  
  • 17832 Bottlebrush Drive Dallas, TX 2
    • 4 beds 4 baths ∙ 2,708 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,708 Sqft ∙ Built 2019
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.14
    •  
  • 8249 Zoysia Dallas, TX 3
    • 4 beds 4 baths ∙ 2,836 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,836 Sqft ∙ Built 2018
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.15
    •  
  • 8235 Natchez Trail Dallas, TX 4
    • 4 beds 3 baths ∙ 2,879 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,879 Sqft ∙ Built 2018
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $1.14
    •  
  • 17722 Bottlebrush Drive Dallas, TX 5
    • 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2019
    property image
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.13
    •  
PROPERTY LISTING DETAILS
Carol Thompson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14412011
Last Updated: 08/25/2020
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