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1171 Fairway West Hideaway, TX 75771

3 Beds 2 Baths 2,262 sqft Built 1984

$319,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $141.03
  • 6 Days on Market
  • MLS # : 14502574
  • Updated Date : 01/21/2021 at 17:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,262 sqft
  • Baths : 2 full
Listing Agent

Bhhs Premier Properties

Listing Agent's Description

UPdated everything! This beautiful home has incredible views overlooking signature hole. 3 bedrooms, 2 baths, 2 car garage, has been updated throughout. New Flooring, granite, plumbing, fixtures, and so much more. Home has wet bar, sunroom with large bay windows which allow for spectacular views overlooking the golf course and pond. Located at the end of cul-de-sac and surrounded by trees, this home is a MUST see!

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: Hideaway Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $80k235k

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

Neighborhood: Hideaway Lake

NeighborhoodNIR Market*CityMarket2015Year20102019 Q21000105011001150120012501300135014001450150015501600Rent in $10001635

* 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
College Street Elementary School Primary Regular 434 28 6
Lindale Junior High School Middle Regular 569 40 9
Lindale High School High Regular 1,153 83 7

College Street Elementary School

  • Education Level: Primary
  • # of students: 434
  • # of teachers: 28
6
GreatSchools Rating

Lindale Junior High School

  • Education Level: Middle
  • # of students: 569
  • # of teachers: 40
9
GreatSchools Rating

Lindale High School

  • Education Level: High
  • # of students: 1,153
  • # of teachers: 83
7
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,108
Property Tax -$522
Property Insurance -$158
HOA -$625
Property Management Fees -$99
CASH FLOW
-$551

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$319,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 10.10%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$53

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$2,190
$2,190
RENT COMPS ANALYSIS
  • 1171 Fairway West Hideaway, TX 1
    • 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,262 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.87
    •  
  • 522 Hide A Way Lane Hideaway, TX 2
    • 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1975 3 beds 3 baths ∙ 2,364 Sqft ∙ Built 1975
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.93
    •  
PROPERTY LISTING DETAILS
Corey Green
Bhhs Premier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502574
Last Updated: 01/21/2021
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