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1222 Nancy Lane Lancaster, TX 75134

3 Beds 2 Baths 1,728 sqft Built 1999

INVESTimate

$195,000

List Price

$1,620

$1,458 - $1,782

Rent Est.

$217,932  ( +11.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $112.85
  • 2 Days on Market
  • MLS # : 14409860
  • Updated Date : 08/26/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,728 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

WOW!! Well maintained 3 BR 2 Bath home in Lancaster!! Spacious living room, functional kitchen and gorgeous fireplace that your family can enjoy. Open concept floor plan connects kitchen to living room! Oversized master suite complete wiith dual vanities, step in shower and huge closet!! Huge backyard perfect for entertaining! MUST SEE!!

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: Pleasant Manor Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k243k

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

Neighborhood: Pleasant Manor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8701734

* 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
Belt Line Elementary School Primary Regular 572 35 4
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Belt Line Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 35
4
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,458$1,782$1,620

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$900k

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 $1,620
EXPENSES Loan Payment -$719
Property Tax -$496
Property Insurance -$127
Property Management Fees -$99
CASH FLOW
$178

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.

$195,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$25,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,451
1$1,4512$1,4953$1,4994$1,5455$1,620
$1,620
RENT COMPS ANALYSIS
  • 1222 Nancy Lane Lancaster, TX 5
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.94
    •  
  • 1141 Meadow Creek Court Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1979
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,451
    • $0.94
    •  
  • 1254 High Meadow Lane Lancaster, TX 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1980
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.93
    •  
  • 1114 Alicia Lane Lancaster, TX 3
    • 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1998
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.95
    •  
  • 1237 Nancy Lane Lancaster, TX 4
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1998
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.94
    •  
PROPERTY LISTING DETAILS
Nick Good
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409860
Last Updated: 08/26/2020
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