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

114 Hummingbird Lane Justin, TX 76247

4 Beds 3 Baths 2,753 sqft Built 1997

INVESTimate

$350,000

List Price

$2,250

$2,025 - $2,475

Rent Est.

$376,145  ( +7.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $127.13
  • 5 Days on Market
  • MLS # : 14409203
  • Updated Date : 08/25/2020 at 11:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,753 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Enjoy country living on almost one third acre in this stunning move-in ready home! Featuring a private backyard paradise with heated salt water pool & spa; numerous fruit trees; double person swing surrounded by grapevines; storage shed & extra RV.boat parking. Full bath conveniently located with its own separate door to backyard. The spacious eat-in kitchen with breakfast bar overlooks the family room & opens to the front living areas. As soon as you enter through the front door you will see a gorgeous, peaceful view of the pool. Master bath flooring & shower recently updated. There is stained concrete under the master bdrm & family room flooring. Garage is equipped with heating & air conditioning.

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: Meadowlands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Meadowlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10532171

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
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
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,025$2,475$2,250

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

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 $2,250
EXPENSES Loan Payment -$1,291
Property Tax -$729
Property Insurance -$186
HOA -$21
Property Management Fees -$99
CASH FLOW
-$77

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.

$350,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.47%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,368

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9953$2,2504$3,000
$3,000
RENT COMPS ANALYSIS
  • 114 Hummingbird Lane Justin, TX 3
    • 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.82
    •  
  • 1001 Summit Drive Justin, TX 1
    • 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 1998
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 408 Silver Mine Drive Justin, TX 2
    • 5 beds 3 baths ∙ 2,497 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,497 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 422 N Hardeman Circle Justin, TX 4
    • 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,710 Sqft ∙ Built 1996
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.11
    •  
PROPERTY LISTING DETAILS
Cheryl Wages
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409203
Last Updated: 08/25/2020
BESbswy