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11431 Cromwell Court Dallas, TX 75229

4 Beds 3 Baths 2,731 sqft Built 2020

$725,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $265.47
  • 2 Days on Market
  • MLS # : 14475530
  • Updated Date : 11/21/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,731 sqft
  • Baths : 3 full
Listing Agent

Global Realty

Listing Agent's Description

WOW! This inviting custom home is located on a large lot, surrounded by gorgeous landscaping & trees. This isn't just a remodel, it's a complete rebuild that keeps the Integrity of this charming neighborhood. Prior to rebuild, property had one owner who purchased it brand new in 1959. Just a few houses down from Marcus Park. A “green certified” property- foam installation, energy efficient windows and appliances. Real, white oak hardwoods throughout. Vaulted ceiling in the living & kitchen with a large 11-ft island with quartz countertop and gold farm sink. Split floor plan, with two master suites! Both have dual sinks & make up vanities. Large walk-in, custom-built closets. Neighborhood has a community pool!

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: Park Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k411k

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

Neighborhood: Park Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9472615

* 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
Everette L. Degolyer Elementary School Primary Regular 393 28 8
Thomas C. Marsh Middle School Middle Regular 1,084 69 2
W. T. White High School High Regular 2,290 134 4

Everette L. Degolyer Elementary School

  • Education Level: Primary
  • # of students: 393
  • # of teachers: 28
8
GreatSchools Rating

Thomas C. Marsh Middle School

  • Education Level: Middle
  • # of students: 1,084
  • # of teachers: 69
2
GreatSchools Rating

W. T. White High School

  • Education Level: High
  • # of students: 2,290
  • # of teachers: 134
4
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,675
Property Tax -$1,719
Property Insurance -$185
Property Management Fees -$99
CASH FLOW
-$1,718

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$725,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

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$194,125

INVESTMENT

$194,125

Down Payment
$181,250
Rehab Estimate
$2,000
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

-$48

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $3,869

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,9603$4,8504$4,875
$4,875
RENT COMPS ANALYSIS
  • 11431 Cromwell Court Dallas, TX 2
    • 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.08
    •  
  • 2702 Mount View Drive Farmers Branch, TX 1
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2008
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.99
    •  
  • 3344 Walchard Court Dallas, TX 3
    • 3 beds 4 baths ∙ 2,899 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,899 Sqft ∙ Built 2018
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $1.67
    •  
  • 3336 Walchard Court Dallas, TX 4
    • 3 beds 4 baths ∙ 3,070 Sqft ∙ Built 2020 3 beds 4 baths ∙ 3,070 Sqft ∙ Built 2020
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,875
    • $1.59
    •  
PROPERTY LISTING DETAILS
Kelli Green
Global Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475530
Last Updated: 11/21/2020
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