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116 Linda Lane Heath, TX 75032

3 Beds 2 Baths 2,219 sqft Built 2005

INVESTimate

$325,000

List Price

$2,300

$2,070 - $2,530

Rent Est.

$342,940  ( +5.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $146.46
  • 4 Days on Market
  • MLS # : 14419041
  • Updated Date : 08/23/2020 at 21:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,219 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Amazing home nestled in Antigua Bay on Lake Ray Hubbard. Interior freshened up with new paint, & move in ready! This home has all of the elegant finishes expected in a custom build, granite, stainless appl, custom cabinets, beautiful lighting & hardware, crown molding, s both bathrooms completely updated, Master bath has builtin flatscreen behind framed mirror. Family rm has a great floor to ceiling stone fireplace with built ins. A large covered patio with a Jacuzzi, plus extended patio for more seating, play area, outdoor kitchen & pool, it will all fit!l. Beautiful landscaping, storage shed, privacy fence. Neighborhood lake access for swimming, fishing or kayaking. LOW HOA, $75 per yr. NEW ROOF, May 2020.

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: 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$2,070$2,530$2,300

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,199
Property Tax -$582
Property Insurance -$155
HOA -$6
Property Management Fees -$99
CASH FLOW
$259

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.

$325,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.52%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$45,422

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,302

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,2954$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 116 Linda Lane Heath, TX 5
    • 4 beds 2 baths ∙ 2,219 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,219 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.04
    •  
  • 2017 Brazoria Drive Forney, TX 1
    • 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,926 Sqft ∙ Built 2013
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
  • 2003 Brazoria Drive Forney, TX 2
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2012
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
  • 410 Normandy Lane Heath, TX 3
    • 4 beds 2 baths ∙ 2,207 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,207 Sqft ∙ Built 2001
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
  • 114 Dunford Drive Heath, TX 4
    • 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 2002
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jill D'aoust
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419041
Last Updated: 08/23/2020
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