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1237 Rushmore Drive Burleson, TX 76028

4 Beds 3 Baths 2,123 sqft Built 2021

$312,985

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $147.43
  • 2 Days on Market
  • MLS # : 14514192
  • Updated Date : 02/05/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,123 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Welcome to Hidden Vistas in Burleson TX, just south of Fort Worth in desired Burleson ISD. The Carnation plan offers versatility, curb appeal, and function with classic Brick Elevation with Covered Porch, 4 Bedrooms, 3 Full Bathrooms, Open Concept Living Room, Casual Dining, and Kitchen with an Island & Breakfast Bar, Game Room, Laundry, and 2 Car Garage. 4th Bedroom could double as a Study or Formal Dining Room. Master Suite offers a Walk-In Shower, Linen Closet, and Large Walk-In Closet. Smart Home System & Foam Insulation! Each Lillian Custom Home is Energy Efficient. Ask about our Hometown Heroes program & preferred lender incentives! Estimated summer 2021 move-in.

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: Hidden Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $88k393k

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

Neighborhood: Hidden Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9452405

* 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
Norwood Elementary School Primary Regular 437 30 3
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

Norwood Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 30
3
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

$281,687$344,284$312,985

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,087
Property Tax -$750
Property Insurance -$150
HOA -$46
Property Management Fees -$99
CASH FLOW
-$272

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.

$312,985

PROJECTED PRICE

$1,860

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

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$84,941

INVESTMENT

$84,941

Down Payment
$78,246
Rehab Estimate
$2,000
Closing Costs
$4,695

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,087

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,246
Loan Amount $234,739
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,797

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7953$1,8504$1,860
$1,860
RENT COMPS ANALYSIS
  • 1237 Rushmore Drive Burleson, TX 4
    • 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,123 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.88
    •  
  • 1006 Thistle Meade Circle Burleson, TX 1
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 920 Hidden Oaks Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 2,360 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,360 Sqft ∙ Built 2004
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 1140 Hidden Meadow Drive Burleson, TX 3
    • 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2008
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ashlee Mcghee
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514192
Last Updated: 02/05/2021
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