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1210 Timber Ridge Drive Euless, TX 76039

3 Beds 2 Baths 2,062 sqft Built 1981

$310,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $150.34
  • 4 Days on Market
  • MLS # : 14491789
  • Updated Date : 01/08/2021 at 10:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,062 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Charming Euless home with large pool features the best of modern updating paired with original character. Step into the living room with brick fireplace anchoring the room, to one side is a flex space that could be used as second living space, office or play room. Kitchen includes casual dining area, peninsula granite countertop & mosaic backsplash. The backyard is a dream with peaceful covered patio, large diving pool, mature trees for privacy & storage building. Other updating includes HVAC only 3 years old & energy efficient windows! A short distance from a few public parks where you can take long walks or have a picnic. Easy access to Hwy 121. Ask about saving thousands with special financing.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Timber Ridge Euless

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k289k

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

Neighborhood: Timber Ridge Euless

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9452099

* 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
Lakewood Elementary School Primary Regular 713 39 6
Euless Junior High School Middle Regular 1,024 57 8
Euless Junior High School High Regular 1,024 57 8

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 39
6
GreatSchools Rating

Euless Junior High School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating

Euless Junior High School

  • Education Level: High
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,077
Property Tax -$602
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
$75

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.

$310,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,010

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$2,0004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1210 Timber Ridge Drive Euless, TX 3
    • 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,062 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
  • 3708 Pinewood Street Bedford, TX 1
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1980
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.95
    •  
  • 1215 Douglas Street Euless, TX 2
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1970
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 900 Spring Oak Court Euless, TX 4
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1981
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 4000 Double Oak Drive Bedford, TX 5
    • 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2001
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jordan Davis
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491789
Last Updated: 01/08/2021
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