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1232 Quaker Lane Lane Lewisville, TX 75077

3 Beds 3 Baths 2,130 sqft Built 1997

INVESTimate

$355,000

List Price

$2,040

$1,836 - $2,244

Rent Est.

$382,335  ( +7.70%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $166.67
  • 5 Days on Market
  • MLS # : 14418385
  • Updated Date : 08/24/2020 at 11:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,130 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Beautiful home nestled on pretty lot w curb appeal galore, you will adore the spacious office & appreciate the natural light throughout, well-appointed Kitchen features shaker style cabinetry, glass backsplash, corian counter tops,double ss ovens, large gathering room w FP framed between 2 quarter-moon windows, laminate wood flooring in dining, office & living, all bedrooms are located on 2nd level for optimal privacy, master spa bath has separate shower & garden tub,THAT BACKYARD! Hiding behind the custom privacy fence is a STAYCATION dream, cooking area w retractable awning, gorgeous sparkling pool w custom sail shades, attached spa,just enough grass for fido, designed for low maintenance & optimal relaxation

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: Vista Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k311k

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

Neighborhood: Vista Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262016

* 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
Valley Ridge Elementary School Primary Regular 535 40 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Valley Ridge Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 40
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,310
Property Tax -$612
Property Insurance -$150
HOA -$20
Property Management Fees -$99
CASH FLOW
-$151

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.

$355,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.70%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$9,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,071

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0003$2,0404$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 1232 Quaker Lane Lane Lewisville, TX 3
    • 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.96
    •  
  • 1357 Honeysuckle Lane Lewisville, TX 1
    • 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,004 Sqft ∙ Built 1994
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 1217 Quaker Lane Lewisville, TX 2
    • 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1996
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 1217 Bedford Lane Lewisville, TX 4
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1997
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 1212 Quaker Lane Lewisville, TX 5
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1997
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tanya Lang
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 #: 14418385
Last Updated: 08/24/2020
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