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115 Linda Lane Heath, TX 75032

4 Beds 3 Baths 1,724 sqft Built 1982

$284,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $165.26
  • 1 Days on Market
  • MLS # : 14505517
  • Updated Date : 01/23/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,724 sqft
  • Baths : 3 full
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

Charming home nestled in Antigua Bay on Lake Ray Hubbard. Enjoy a modern open floorplan complete with a kitchen featuring a large walk in pantry, beautiful quartz counters, floor to ceiling soft closing cabinetry and brand new stainless steel appliances. Interior freshened up with new paint and new luxury vinyl plank flooring throughout, updated bathrooms, new ductwork and HVAC System (2020) and Foundation repaired with Transferable Warranty. Neighborhood lake access for swimming, fishing or kayaking. Move in ready, come see today!

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: Antigua Bay

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k538k

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

Neighborhood: Antigua Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$990
Property Tax -$510
Property Insurance -$127
HOA -$6
Property Management Fees -$99
CASH FLOW
-$51

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.

$284,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,782

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6803$1,6954$1,8255$1,850
$1,850
RENT COMPS ANALYSIS
  • 115 Linda Lane Heath, TX 2
    • 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1982 4 beds 3 baths ∙ 1,724 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.97
    •  
  • 116 Darrell Drive Heath, TX 1
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1978
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.16
    •  
  • 120 Gregory Drive Heath, TX 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1975
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.12
    •  
  • 408 Scenic Drive Heath, TX 4
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1983
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.18
    •  
  • 206 Linda Lane Heath, TX 5
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1995
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.16
    •  
PROPERTY LISTING DETAILS
Nency Hernandez
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505517
Last Updated: 01/23/2021
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