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114 Lakeview Drive Aledo, TX 76008

3 Beds 2 Baths 2,234 sqft Built 1988

$368,900

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $165.13
  • 4 Days on Market
  • MLS # : 14495869
  • Updated Date : 01/07/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,234 sqft
  • Baths : 2 full
Listing Agent

Keller Williams-johnson County

Listing Agent's Description

Gorgeous 3 bedroom 2 bath home situated on over half an acre with a sparkling pool! This home has beautiful curb appeal and a side entry 3 car divided garage. Gorgeous formal dining, kitchen features gray and white look with beautiful quartzite countertops and subway tile, an island and breakfast bar. Living room is light and bright with lots of windows, cozy white stone fireplace and beautiful woodwork on ceiling. Master bath has a separate shower, soaking tub & walk in closet! Out back is a outdoor oasis with a large back patio, sparkling pool with spa and water features. No city Taxes!!!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Zip Code: 76008

ZipNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

* 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
Stuard Elementary School Primary Regular 531 30 9
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Stuard Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 30
9
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$332,010$405,790$368,900

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,281
Property Tax -$826
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
-$173

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.

$368,900

PROJECTED PRICE

$2,190

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,509

INVESTMENT

$103,509

Down Payment
$92,225
Rehab Estimate
$5,750
Closing Costs
$5,534

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,281

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,225
Loan Amount $276,675
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,228

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1503$2,1904$2,3505$2,450
$2,450
RENT COMPS ANALYSIS
  • 114 Lakeview Drive Aledo, TX 3
    • 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.98
    •  
  • 149 Shumard Drive Aledo, TX 1
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2006
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 160 Lakeview Drive Aledo, TX 2
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.92
    •  
  • 207 Highland Drive Aledo, TX 4
    • 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,193 Sqft ∙ Built 2000
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.07
    •  
  • 162 Portales Drive Aledo, TX 5
    • 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,400 Sqft ∙ Built 2006
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.02
    •  
PROPERTY LISTING DETAILS
Karan Wethington
Keller Williams-johnson County
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495869
Last Updated: 01/07/2021
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