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1220 Daylily Drive Northlake, TX 76226

4 Beds 2 Baths 2,203 sqft Built 2020

$378,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.99
  • 7 Days on Market
  • MLS # : 14468402
  • Updated Date : 11/09/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,203 sqft
  • Baths : 2 full
Listing Agent

Key Trek-cc

Listing Agent's Description

FINAL OPPORTUNITIES! Elegant new construction home built by K. Hovnanian Homes! Canyon Falls is a serene master-planned Northlake community with natural ambiance. Wonderful amenities include a pool, expansive parks, miles of adventure trails, and dog parks. Welcoming great room with warming fireplace and wall of windows overlooks the shady covered patio! Gorgeous kitchen with stylish stainless appliances and granite counters is designed for large families. Serene owner’s suite presents a relaxing luxury bath with separate tub and shower. Convenient Hovhall with valet - great for staying organized. Smart home features meet all your family's needs! Smart home features! $22,300 in upgrades included.

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: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Neighborhood: Canyon Falls

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
Roanoke Elementary School Primary Regular 731 45 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$341,010$416,790$378,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,398
Property Tax -$753
Property Insurance -$155
HOA -$195
Property Management Fees -$99
CASH FLOW
-$660

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.

$378,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.51%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,409

INVESTMENT

$102,409

Down Payment
$94,725
Rehab Estimate
$2,000
Closing Costs
$5,684

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,725
Loan Amount $284,175
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,677

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,5003$2,5004$2,5305$2,700
$2,700
RENT COMPS ANALYSIS
  • 1220 Daylily Drive Northlake, TX 1
    • 4 beds 2 baths ∙ 2,203 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,203 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.88
    •  
  • 1122 Berrydale Drive Northlake, TX 2
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2016
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 1104 Parkdale Drive Northlake, TX 3
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 1408 Wolfberry Lane Northlake, TX 4
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.23
    •  
  • 1509 Tumbleweed Trail Northlake, TX 5
    • 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.23
    •  
PROPERTY LISTING DETAILS
Teri Walter
Key Trek-cc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468402
Last Updated: 11/09/2020
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