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1272 Roan Drive Lancaster, TX 75134

3 Beds 2 Baths 1,567 sqft Built 1985

$220,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $140.40
  • 6 Days on Market
  • MLS # : 14498083
  • Updated Date : 01/12/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,567 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Lancaster one-story home offers a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Colonial Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k243k

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

Neighborhood: Colonial Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8741734

* 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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$764
Property Tax -$560
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$19

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.

$220,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,453

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3953$1,4754$1,5605$1,595
$1,595
RENT COMPS ANALYSIS
  • 1272 Roan Drive Lancaster, TX 4
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.00
    •  
  • 2730 E Pepperidge Drive Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1979
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 2645 Arlington Lane Lancaster, TX 2
    • 4 beds 2 baths ∙ 1,467 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,467 Sqft ∙ Built 1971
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 849 W Wintergreen Rd Lancaster, TX 3
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1980
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.88
    •  
  • 874 W Wintergreen Road Lancaster, TX 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2003
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498083
Last Updated: 01/12/2021
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