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1219 Crest Ridge Drive Glenn Heights, TX 75154

3 Beds 2 Baths 2,208 sqft Built 2016

$285,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $129.08
  • 2 Days on Market
  • MLS # : 14501640
  • Updated Date : 01/23/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,208 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

This is it, Your Slice of Paradise Awaits You in the Highly Sought After Kingston Meadows Neighborhood of Glenn Heights. This Lovely DR Horton Home Features 3 Bedroom, 2 Bathroom, 2 Car Garage, Office, Study, or 4th Bedroom Option, You Be The Judge, Also Enjoy Great Open Living and Dining Areas. And Let's Not Forget the Inside Plantation Shutters on All Large Windows Throughout the Home with Added Custom Motorized Blinds in Dining Area and Master Bathroom for Your Comfort. When you take into account the Large Tile Throughout The Home, High Ceilings, and Skylight in the Kitchen, This Well Maintain Young Home Flows with Elegance and Style, That's Ready for New Homeowners to Call This Home Sweet Home. Call Today!

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: 75154

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $110k243k

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

Zip Code: 75154

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10151734

* 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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$990
Property Tax -$719
Property Insurance -$155
HOA -$20
Property Management Fees -$99
CASH FLOW
-$162

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,512

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,827

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7754$1,8205$1,850
$1,850
RENT COMPS ANALYSIS
  • 1219 Crest Ridge Drive Glenn Heights, TX 4
    • 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,208 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.82
    •  
  • 1717 Rock Ridge Drive Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2007
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 1104 Wynnewood Drive Glenn Heights, TX 2
    • 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,223 Sqft ∙ Built 2007
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 1610 Forest Creek Drive Cedar Hill, TX 3
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.87
    •  
  • 1302 Turnbridge Drive Glenn Heights, TX 5
    • 4 beds 2 baths ∙ 2,213 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,213 Sqft ∙ Built 2009
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
PROPERTY LISTING DETAILS
Al Gaither
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501640
Last Updated: 01/23/2021
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