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1212 10th Northlake, TX 76226

4 Beds 4 Baths 2,929 sqft Built 2021

$544,679

List Price

$3,090

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $185.96
  • 8 Days on Market
  • MLS # : 14501600
  • Updated Date : 01/20/2021 at 08:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,929 sqft
  • Baths : 4 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14501600 - Built by Coventry Homes - March completion! ~ This lovely one-story home has an abundance of luxuries. Welcoming front porch, soaring entry ceiling & 3-car tandem garage. The oversized family room opens up into the large kitchen & huge island, abundance of cabinetry & spacious pantry. The master bedroom offers an exquisite bowed window. Master bath is luxurious with separate vanities & tub, grand walk-in shower & large walk-in closet. The secondary bedroom in the front of the home has its own private bath, perfect for kids or guests. The game room off the fourth bedroom & bathroom is ideal for a teen retreat or guest suite. This home is LEED Certified Smart Homes & 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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$490,211$599,147$544,679

PURCHASE PRICE

$2,781$3,399$3,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,090
EXPENSES Loan Payment -$1,892
Property Tax -$1,043
Property Insurance -$196
HOA -$15
Property Management Fees -$99
CASH FLOW
-$156

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$544,679

PROJECTED PRICE

$3,090

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,340

INVESTMENT

$146,340

Down Payment
$136,170
Rehab Estimate
$2,000
Closing Costs
$8,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,892

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,170
Loan Amount $408,509
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$14,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,090

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $3,083

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,090
1$3,0902$3,2003$3,2004$3,2755$3,450
$3,450
RENT COMPS ANALYSIS
  • 1212 10th Argyle, TX 1
    • 4 beds 4 baths ∙ 2,929 Sqft ∙ Built 2021 4 beds 4 baths ∙ 2,929 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,090
    • $1.05
    •  
  • 1425 6th Street Argyle, TX 2
    • 4 beds 4 baths ∙ 3,093 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,093 Sqft ∙ Built 2013
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
  • 220 Sunrise Drive Argyle, TX 3
    • 4 beds 3 baths ∙ 3,100 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,100 Sqft ∙ Built 2015
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
  • 224 Lilypad Bend Argyle, TX 4
    • 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $1.01
    •  
  • 224 Birdcall Lane Argyle, TX 5
    • 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,015 Sqft ∙ Built 2013
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.14
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501600
Last Updated: 01/20/2021
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