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1161 Falcon View Drive Kennedale, TX 76060

4 Beds 4 Baths 3,297 sqft Built 2006

$750,000

List Price

$3,290

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $227.48
  • 5 Days on Market
  • MLS # : 14241317
  • Updated Date : 01/20/2021 at 10:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,297 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

A RARE FIND..1+ acre lot in exclusive gated community! Stone pathway gets you to your spacious, enclosed, outdoor pavilion situated on this beautifully treed lot with fireplace, built-in seating&tables, recessed lighting, ceiling fan, kitchen with grill sink refrigerator. The PERFECT place to relax and entertain! Custom home with elegant, detailed trim work, gorgeous granite, Thermador appliances, cathedral ceiling in gourmet kitchen, double ovens, over-sized gas cook top, large island, abundance of storage, butler's pantry, walk in pantry with glass door, large utility room with tons of cabinetry, space for freezer-refrigerator, built in sink, covered patio with deck &hot tub. Virtual staged

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: Falcon Wood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k475k

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

Neighborhood: Falcon Wood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263077

* 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
Kennedale High School High Regular 993 60 5

Kennedale High School

  • Education Level: High
  • # of students: 993
  • # of teachers: 60
5
GreatSchools Rating
 

$675,000$825,000$750,000

PURCHASE PRICE

$2,961$3,619$3,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,290
EXPENSES Loan Payment -$2,605
Property Tax -$1,732
Property Insurance -$218
HOA -$67
Property Management Fees -$99
CASH FLOW
-$1,431

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$750,000

PROJECTED PRICE

$3,290

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,605

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$68

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,290

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $3,017

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9003$3,290
$3,290
RENT COMPS ANALYSIS
  • 1161 Falcon View Drive Kennedale, TX 3
    • 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,297 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $3,290
    • $1.00
    •  
  • 5509 Bright Star Trail Arlington, TX 1
    • 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2017 5 beds 4 baths ∙ 3,064 Sqft ∙ Built 2017
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.91
    •  
  • 8107 Summerleaf Drive Arlington, TX 2
    • 5 beds 3 baths ∙ 3,144 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,144 Sqft ∙ Built 2006
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.92
    •  
PROPERTY LISTING DETAILS
Julie Short
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14241317
Last Updated: 01/20/2021
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