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1316 Surfside Drive Pelican Bay, TX 76020

3 Beds 2 Baths 1,565 sqft Built 2018

$229,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $146.33
  • 2 Days on Market
  • MLS # : 14526882
  • Updated Date : 03/06/2021 at 16:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,565 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Beautiful Home in Lakeview Estates Complete with 3 Bedrooms, 2 Baths and a 2 Car Garage. Upon Entry You are Welcomed Into The Entry Hall That Leads You to The Generously Sized Living Room. The Space is Anchored by a Cast Stone Wood Burning Fireplace and has Bright Views of the Back Yard. The Spacious Kitchen Features Stainless Steel Appliances, Granite Counters an Abundance of Cabinets and a Large Walk In Pantry. The Dining Area is a Great Space that is Open to the Living Area. The Master Suite Boasts Dual Sinks, Garden Tub, Walk In Shower & Large Closet. Secondary Bedrooms are Split for Privacy. Enjoy the Pool Sized Backyard from the Covered Back Patio. No HOA! Close Proximity to the Lake & Area Attractions.

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

Zip Code: 76020

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76020

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9121734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$795
Property Tax -$498
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$160

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.

$229,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$22,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,6604$1,6705$1,700
$1,700
RENT COMPS ANALYSIS
  • 1316 Surfside Drive Pelican Bay, TX 4
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.07
    •  
  • 121 Dennis Drive Azle, TX 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 720 Kriston Drive Azle, TX 2
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2007
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 776 Hunter Drive Azle, TX 3
    • 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,618 Sqft ∙ Built 2003
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.03
    •  
  • 1328 E Surfside Drive Azle, TX 5
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2018
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Kevin Rutherford
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526882
Last Updated: 03/06/2021
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