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1326 Lawyers Lane Abilene, TX 79602

3 Beds 2 Baths 1,312 sqft Built 1983

INVESTimate

$159,900

List Price

$1,240

$1,116 - $1,364

Rent Est.

$166,664  ( +4.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $121.88
  • 8 Days on Market
  • MLS # : 14416308
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,312 sqft
  • Baths : 2 full
Listing Agent

Sendero Properties Llc

Listing Agent's Description

This charming home is move-in-ready, lovingly cared for, and waiting for you! Walking distance from Nelson Park, the splash pad, and Craig middle school! This home boasts established trees, covered porches, and a large backyard complete with dog run, storage building and deck. The inside of the home features crown molding, new Java Scraped Oak laminate floors, Nest thermostat, new garage door, AC and roof replaced in 2015, and water heater in 2018. The master bath has been updated with new tile floors, updated countertops, and painted cabinets. The home also has a split layout. Come and see this incredible property for yourself. Welcome home.

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

Neighborhood: South E. Highway 80

ZipNIR Market*CityMarket2010Year2005 Q3201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $66k189k

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

Neighborhood: South E. Highway 80

ZipNIR Market*CityMarket2015Year20112019 Q28509009501000105011001150120012501300Rent in $8171309

* 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
Thomas Elementary School Primary Regular 551 34 6
Craig Middle School Middle Regular 911 61 4
Abilene High School High Regular 1,925 131 4

Thomas Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 34
6
GreatSchools Rating

Craig Middle School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 61
4
GreatSchools Rating

Abilene High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 131
4
GreatSchools Rating
 

$143,910$175,890$159,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k

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$50k$100k$150k$200k$250k$300k$350k$400k$450k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$590
Property Tax -$344
Property Insurance -$102
Property Management Fees -$99
CASH FLOW
$105

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$159,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.23%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,124

INVESTMENT

$48,124

Down Payment
$39,975
Rehab Estimate
$5,750
Closing Costs
$2,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,975
Loan Amount $119,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$8,238

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,237

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2403$1,2754$1,2955$1,395
$1,395
RENT COMPS ANALYSIS
  • 1326 Lawyers Lane Abilene, TX 2
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.95
    •  
  • 750 Chaucer Drive Abilene, TX 1
    • 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,123 Sqft ∙ Built 1985
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.02
    •  
  • 865 Chanticleers Lane Abilene, TX 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1983
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.86
    •  
  • 826 Alisons Way Abilene, TX 4
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1983
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 1301 Seamans Way Abilene, TX 5
    • 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,379 Sqft ∙ Built 1986
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
PROPERTY LISTING DETAILS
Caleb Fullerton
Sendero Properties Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416308
Last Updated: 08/20/2020
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