Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1131 Mercer Avenue Argyle, TX 76226

4 Beds 5 Baths 4,026 sqft Built 2018

$655,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $162.69
  • 2 Days on Market
  • MLS # : 14514136
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,026 sqft
  • Baths : 4 full , 1 half
Listing Agent

Your Home Free Llc

Listing Agent's Description

BETTER THAN NEW two story home WITH A POOL in the sought after Lantana golf community! The sprawling floor plan offers 4 bedrooms, 4.5 baths, upstairs game & media rooms, French door study, and 3-car garage! Upgrades have been done for you from rich hardwood flooring, modern white and gray cabinetry, neutral paint tones, and brand new covered patio! Gourmet kitchen with gas cooktop and huge center island overlook the family room for perfect open concept living. Master is the perfect retreat with luxurious bathroom and HUGE walk-in closets. Downstairs bedroom with ensuite bathroom creates a terrific mother-in-law suite. Custom sparkling pool and outdoor living center are sure to be enjoyed year around!

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: Lantana

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Lantana

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Adkins Elementary School Primary Unknown NA
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

Adkins Elementary School

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

Harpool Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 61
9
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$589,500$720,500$655,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,275
Property Tax -$1,302
Property Insurance -$260
HOA -$121
Property Management Fees -$99
CASH FLOW
-$1,157

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.

$655,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$179,325

INVESTMENT

$179,325

Down Payment
$163,750
Rehab Estimate
$5,750
Closing Costs
$9,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,275

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $163,750
Loan Amount $491,250
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.

  • $2,900

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $3,311

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,1953$3,2004$3,3005$3,400
$3,400
RENT COMPS ANALYSIS
  • 1131 Mercer Avenue Argyle, TX 1
    • 4 beds 5 baths ∙ 4,026 Sqft ∙ Built 2018 4 beds 5 baths ∙ 4,026 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.72
    •  
  • 8808 Wyatt Circle Lantana, TX 2
    • 4 beds 4 baths ∙ 3,842 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,842 Sqft ∙ Built 2007
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $0.83
    •  
  • 1320 Terrace Drive Lantana, TX 3
    • 5 beds 4 baths ∙ 4,187 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,187 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.76
    •  
  • 723 Lathrop Street Lantana, TX 4
    • 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009 4 beds 4 baths ∙ 4,009 Sqft ∙ Built 2009
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.82
    •  
  • 8908 Cypress Creek Road Lantana, TX 5
    • 4 beds 4 baths ∙ 3,871 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,871 Sqft ∙ Built 2008
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
William T. Nelson
Your Home Free Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514136
Last Updated: 02/06/2021
BESbswy