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114 Stallion Lane Hickory Creek, TX 75065

5 Beds 5 Baths 4,453 sqft Built 2017

$740,000

List Price

$3,800

$3.6K - $4.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $166.18
  • 5 Days on Market
  • MLS # : 14473587
  • Updated Date : 12/23/2020 at 11:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,453 sqft
  • Baths : 4 full , 1 half
Listing Agent

Liv Realty, Llc

Listing Agent's Description

Elegant two-story home with an open concept floor plan & abundant windows. This meticulously maintained home has a curved staircase, high exposed beam ceilings & custom lighting. The kitchen has double convection ovens, 42-inch cabinets & a large island. The extended covered back patio is perfect for entertaining or relaxing. Two bedrooms downstairs including the master and three bedrooms upstairs. Upstairs has a media room & loft area. MUST SEE!! Over $150K in upgrades: Flooring, office and master bedroom ceiling, fireplace tile, staircase, extended covered patio with outdoor kitchen, gas grill & refrigerator, heated six foot deep pool and spa.

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: Harbor Grove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $87k352k

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

Neighborhood: Harbor Grove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8322171

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$666,000$814,000$740,000

PURCHASE PRICE

$3,420$4,180$3,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,800
EXPENSES Loan Payment -$2,730
Property Tax -$1,383
Property Insurance -$284
HOA -$63
Property Management Fees -$99
CASH FLOW
-$760

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.

$740,000

PROJECTED PRICE

$3,800

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $185,000
Loan Amount $555,000
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,669

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,800

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,518

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$3,695
1$3,6952$3,800
$3,800
RENT COMPS ANALYSIS
  • 114 Stallion Lane Hickory Creek, TX 2
    • 5 beds 5 baths ∙ 4,453 Sqft ∙ Built 2017 5 beds 5 baths ∙ 4,453 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $0.85
    •  
  • 221 Pimlico Hickory Creek, TX 1
    • 5 beds 5 baths ∙ 4,667 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,667 Sqft ∙ Built 2015
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,695
    • $0.79
    •  
PROPERTY LISTING DETAILS
Tonia Stevens
Liv Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473587
Last Updated: 12/23/2020
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