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1324 Waterside Drive Dallas, TX 75218

4 Beds 3 Baths 2,638 sqft Built 1992

$525,000

List Price

$3,100

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $199.01
  • 5 Days on Market
  • MLS # : 14422227
  • Updated Date : 10/30/2020 at 17:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,638 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This wonderful home is only two blocks from white Rock Lake, close to Lakewood and an easy commute to downtown. Nice living areas with vaulted ceilings and hardwoods. Kitchen with granite counters, six burner Jenn Air cook top, and Bosch dishwasher. Downstairs master with walk in closet and large bath with jetted tub and separate shower. Spacious bedrooms and an upstairs living area are great spaces for those who work from home. This home is located in the private community of Highland On the Creek. This well cared home is a must see.

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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: Highland on the Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $102k583k

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

Neighborhood: Highland on the Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9473144

* 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
Alex Sanger Elementary School Primary Regular 535 35 8
W.h. Gaston Middle School Middle Regular 1,086 70 4
Bryan Adams High School High Regular 1,939 118 4

Alex Sanger Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 35
8
GreatSchools Rating

W.h. Gaston Middle School

  • Education Level: Middle
  • # of students: 1,086
  • # of teachers: 70
4
GreatSchools Rating

Bryan Adams High School

  • Education Level: High
  • # of students: 1,939
  • # of teachers: 118
4
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,790$3,410$3,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,100
EXPENSES Loan Payment -$1,937
Property Tax -$1,245
Property Insurance -$180
HOA -$40
Property Management Fees -$99
CASH FLOW
-$400

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.

$525,000

PROJECTED PRICE

$3,100

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,100

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $3,080

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$3,1003$3,1004$3,1005$3,600
$3,600
RENT COMPS ANALYSIS
  • 1324 Waterside Drive Dallas, TX 4
    • 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.18
    •  
  • 7050 Belteau Lane Dallas, TX 1
    • 3 beds 2 baths ∙ 2,460 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,460 Sqft ∙ Built 2011
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
  • 8119 Barbaree Boulevard Dallas, TX 2
    • 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.23
    •  
  • 2224 Forest Hollow Park Dallas, TX 3
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.16
    •  
  • 7920 Briar Brook Court Dallas, TX 5
    • 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1998
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.28
    •  
PROPERTY LISTING DETAILS
Thomas Sheshene
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14422227
Last Updated: 10/30/2020
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