Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1205 N Bishop Avenue Dallas, TX 75208

3 Beds 3 Baths 2,504 sqft Built 2006

INVESTimate

$400,000

List Price

$2,780

$2,530 - $3,030

Rent Est.

$445,040  ( +11.26%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $159.74
  • 7 Days on Market
  • MLS # : 14413707
  • Updated Date : 08/21/2020 at 14:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,504 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dave Perry Miller Real Estate

Listing Agent's Description

Beautiful 2-story townhome just blocks from booming Bishop Arts District & only 3 miles from Downtown Dallas. Enter to gleaming hardwoods, 10-ft ceilings and thermo windows with plantation shutters throughout. Enjoy cooking in this updated kitchen w-massive island, granite counters, walk-in pantry, SS appliances all open to den & rear covered deck. Upstairs features spacious owner suite w-oversized walk-in closet, dual vanities & sprawling shower, along with study & 2 more bedrooms - plenty of closet space in this thoughtfully designed home. Perfect blend of low maintenance living with just enough room to entertain. Don’t miss the beautiful covered deck added in 2007 that connects the rear-entry 2-car garage.

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: Kidd Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $88k423k

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

Neighborhood: Kidd Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9452064

* 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
James S. Hogg Elementary School Primary Regular 243 22 4
Hector P. Garcia Middle School Middle Regular 887 53 3
W. H. Adamson High School High Regular 1,441 89 4

James S. Hogg Elementary School

  • Education Level: Primary
  • # of students: 243
  • # of teachers: 22
4
GreatSchools Rating

Hector P. Garcia Middle School

  • Education Level: Middle
  • # of students: 887
  • # of teachers: 53
3
GreatSchools Rating

W. H. Adamson High School

  • Education Level: High
  • # of students: 1,441
  • # of teachers: 89
4
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,476
Property Tax -$948
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
$85

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.

$400,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.26%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$27,023

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $3,249

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,780
1$2,7802$3,1003$3,1954$3,1955$3,200
$3,200
RENT COMPS ANALYSIS
  • 1205 N Bishop Avenue Dallas, TX 1
    • 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,504 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.11
    •  
  • 515 S Marlborough Avenue Dallas, TX 2
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2016
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.20
    •  
  • 1322 Burlington Boulevard Dallas, TX 3
    • 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2019
    property image
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.36
    •  
  • 647 Aspen Valley Lane Dallas, TX 4
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.34
    •  
  • 1871 Stevens Bluff Lane Dallas, TX 5
    • 4 beds 3 baths ∙ 2,482 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,482 Sqft ∙ Built 2016
    property image
    LEASED 04/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.29
    •  
PROPERTY LISTING DETAILS
Kathy Hewitt
Dave Perry Miller Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413707
Last Updated: 08/21/2020
BESbswy