Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1221 Cathey Street Cedar Hill, TX 75104

3 Beds 2 Baths 1,918 sqft Built 2000

INVESTimate

$215,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$234,845  ( +9.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $112.10
  • 7 Days on Market
  • MLS # : 14415572
  • Updated Date : 08/24/2020 at 09:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,918 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

This 3 bed 2 bath home with home office in Cedar Hill has a well-structured floor plan ready for you! The open-floor plan smoothly connects all the areas in this home, such as the connected dining-living room. The kitchen has ample room for all your cooking needs, as well as a bar that overlooks the dining area! A connected utility room off the kitchen is equipped with a washer-dryer hookup, and conveniently placed! Large backyard grass area is perfect for entertaining family or friends, even a garden.

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

Neighborhood: Cedar Crest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Cedar Crest

NeighborhoodNIR 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
Plummer Elementary School Primary Regular 521 28 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Plummer Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 28
5
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$793
Property Tax -$489
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$171

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.

$215,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$26,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,741

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,5994$1,6505$1,690
$1,690
RENT COMPS ANALYSIS
  • 1221 Cathey Street Cedar Hill, TX 5
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.88
    •  
  • 1417 Atkins Street Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2002
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.88
    •  
  • 803 Parkside Drive Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 917 Red Oak Trail Cedar Hill, TX 3
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2003
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.92
    •  
  • 820 Passive Drive Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
PROPERTY LISTING DETAILS
Kim Pratt
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415572
Last Updated: 08/24/2020
BESbswy