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1312 Nimitz Way Mesquite, TX 75181

4 Beds 4 Baths 3,648 sqft Built 2005

INVESTimate

$236,000

List Price

$1,970

$1,773 - $2,167

Rent Est.

$256,508  ( +8.69%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $64.69
  • 6 Days on Market
  • MLS # : 14409990
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,648 sqft
  • Baths : 3 full , 1 half
Listing Agent

Stepstone Realty, Llc

Listing Agent's Description

Fantastic price and opportunity for instant sweat-equity. Just an oven makes this home move-in ready! (AS-IS No Repairs) Paint and flooring updates can be done over time. 4-3-2 home with space galore. 3 large living areas, cozy brick fireplace, a dining area and sunny breakfast nook! Comfortable open floor plan. Large kitchen with plenty of cabinets and countertops, and large walk-in pantry are great for cooking and entertaining. Master bedroom is super spacious, with private area for an office or quiet retreat, and an ensuite bath with shower and soaking tub. Master closet is huge! Large utility room is perfect for storage, or extra refrigerator. Dual HVAC systems for perfect temperature year round.

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: Hills at Tealwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Hills at Tealwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9701805

* 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
Gentry Elementary School Primary Regular 820 49 7
Gentry Elementary School Middle Regular 820 49 7
John Horn High School High Regular 2,284 140 4

Gentry Elementary School

  • Education Level: Primary
  • # of students: 820
  • # of teachers: 49
7
GreatSchools Rating

Gentry Elementary School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 49
7
GreatSchools Rating

John Horn High School

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

$212,400$259,600$236,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$871
Property Tax -$649
Property Insurance -$238
HOA -$26
Property Management Fees -$99
CASH FLOW
$88

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.

$236,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.69%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,290

INVESTMENT

$68,290

Down Payment
$59,000
Rehab Estimate
$5,750
Closing Costs
$3,540

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$871

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,000
Loan Amount $177,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.54

    LIST RENT PER SQFT
  • $1,970

    COMP ESTIMATED VALUE
  • $0.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9703$1,995
$1,995
RENT COMPS ANALYSIS
  • 1312 Nimitz Way Mesquite, TX 2
    • 4 beds 4 baths ∙ 3,648 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,648 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.54
    •  
  • 1400 Jasper Drive Mesquite, TX 1
    • 4 beds 3 baths ∙ 3,516 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,516 Sqft ∙ Built 2005
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.53
    •  
  • 14813 Broadview Drive Balch Springs, TX 3
    • 4 beds 3 baths ∙ 3,640 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,640 Sqft ∙ Built 2003
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.55
    •  
PROPERTY LISTING DETAILS
James Spence
Stepstone Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14409990
Last Updated: 08/22/2020
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