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1253 Clifftop Lane Dallas, TX 75208

3 Beds 3 Baths 1,829 sqft Built 2020

$529,040

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $289.25
  • 3 Days on Market
  • MLS # : 14471252
  • Updated Date : 11/13/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,829 sqft
  • Baths : 2 full , 1 half
Listing Agent

Psw Homes, Llc

Listing Agent's Description

MOVE IN READY - be home for the holidays! FINAL OPPORTUNITIES! Perched high on a cliff top overlooking downtown Dallas, West Dallas' hottest neighborhood StoryBuilt's MERIDIAN is in the heart of it all.Come home to your modern, energy efficient home where you can relax above the city & enjoy a green, sustainable lifestyle. Spray foam encapsulation keeps your energy bills low, thoughtful open-concept, architecturally designed floorplans maximize your footprint- letting you live large while keeping your eco-impact small. Designer finishes like stained concrete & quartz countertops reflect your luxury tastes that also keep your home (and life) low maintenance. Cliffside home with a huge yard!

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: Western Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $64k289k

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

Neighborhood: Western Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7471734

* 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
Sidney Lanier Expressive Arts Vanguard Primary Magnet 610 43 7
L.g. Pinkston High School Middle Regular 999 74 3
L.g. Pinkston High School High Regular 999 74 3

Sidney Lanier Expressive Arts Vanguard

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
7
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: Middle
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: High
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating
 

$476,136$581,944$529,040

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$1,952
Property Tax -$1,254
Property Insurance -$133
HOA -$159
Property Management Fees -$99
CASH FLOW
-$767

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.

$529,040

PROJECTED PRICE

$2,830

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.1%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,196

INVESTMENT

$142,196

Down Payment
$132,260
Rehab Estimate
$2,000
Closing Costs
$7,936

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,260
Loan Amount $396,780
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $1.55

    LIST RENT PER SQFT
  • $2,835

    COMP ESTIMATED VALUE
  • $1.55

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8304$3,000
$3,000
RENT COMPS ANALYSIS
  • 1253 Clifftop Lane Dallas, TX 3
    • 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $1.55
    •  
  • 971 Bassett Place Dallas, TX 1
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2015
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.50
    •  
  • 669 Culpepper Place Dallas, TX 2
    • 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,798 Sqft ∙ Built 2015
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.53
    •  
  • 2725 Yellow Jasmine Lane Dallas, TX 4
    • 3 beds 4 baths ∙ 1,856 Sqft ∙ Built 2017 3 beds 4 baths ∙ 1,856 Sqft ∙ Built 2017
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.62
    •  
PROPERTY LISTING DETAILS
Meridith Brewer
Psw Homes, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471252
Last Updated: 11/13/2020
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