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1304 Greenfield Drive Mesquite, TX 75181

4 Beds 2 Baths 2,100 sqft Built 1994

$285,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $135.71
  • 8 Days on Market
  • MLS # : 14537276
  • Updated Date : 03/26/2021 at 14:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,100 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

You will fall in love with all this house has to offer! 4 bed, 2 bath house fully updated with freshly painted bedrooms, kitchen & dining room. New hardwood floors throughout, & fully updated kitchen with new granite countertops, designer backsplash, & all new stainless steel appliances - Gas oven range, Dishwasher, microwave, garbage disposal, & refrigerator with icemaker. Bedrooms feature tall ceilings & ceiling fans. The master bathroom has a separate shower & soaking tub. Outback you will love the covered outdoor patio space, huge 360 sqft workshop with concrete floor and power, & oversized carport off the 2 car garage along with the fenced-in yard. Last but not least high efficient HVAC unit!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Pirrung Elementary School Primary Regular 473 30 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Pirrung Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 30
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$990
Property Tax -$691
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
$11

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.

$285,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,943

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9404$2,0005$2,195
$2,195
RENT COMPS ANALYSIS
  • 1304 Greenfield Drive Mesquite, TX 3
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.92
    •  
  • 1631 Ariel Drive Mesquite, TX 1
    • 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1990
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 1220 Woodthorpe Drive Mesquite, TX 2
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1992
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 2415 Decoy Drive Mesquite, TX 4
    • 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2000
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 3319 Bitter Creek Drive Mesquite, TX 5
    • 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 1996
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
PROPERTY LISTING DETAILS
Wes Houx
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537276
Last Updated: 03/26/2021
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