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1216 Reininga Drive Desoto, TX 75115

4 Beds 3 Baths 3,285 sqft Built 2020

$455,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $138.51
  • 1 Days on Market
  • MLS # : 14530703
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,285 sqft
  • Baths : 3 full
Listing Agent

The Morine Group, Realtors

Listing Agent's Description

This beautiful home is just like new and one of a kind in Trees Farm Community! Build Completed in Oct., 2020 with new home warranty still in place! Stone and Brick exterior with spacious indoor living. Plenty of Custom Upgrades, Hand Scraped Wood Floors and a lovely Fireplace in the Family Room; Entertainment plus Media Room; Deluxe Gourmet Kitchen with a large island, gas cook top and walk in pantry; 3 Car Garage; Covered Back Patio, including gas connect for outdoor cooking! This amazing listing won't last long!

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: 75115

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451741

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$409,500$500,500$455,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,580
Property Tax -$1,087
Property Insurance -$217
HOA -$42
Property Management Fees -$99
CASH FLOW
-$645

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.

$455,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,575

INVESTMENT

$122,575

Down Payment
$113,750
Rehab Estimate
$2,000
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,398

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3503$2,3804$2,4455$2,500
$2,500
RENT COMPS ANALYSIS
  • 1216 Reininga Drive Desoto, TX 3
    • 4 beds 3 baths ∙ 3,285 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,285 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.72
    •  
  • 504 Spicewood Drive Desoto, TX 1
    • 5 beds 3 baths ∙ 3,341 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,341 Sqft ∙ Built 2002
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.64
    •  
  • 720 Candle Meadow Boulevard Desoto, TX 2
    • 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2004
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 513 Mulberry Lane Desoto, TX 4
    • 5 beds 3 baths ∙ 3,224 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,224 Sqft ∙ Built 2002
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $0.76
    •  
  • 316 Oleander Drive Desoto, TX 5
    • 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
PROPERTY LISTING DETAILS
Frances Davis
The Morine Group, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530703
Last Updated: 03/13/2021
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