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133 Pierce Drive Mabank, TX 75156

3 Beds 2 Baths 1,125 sqft Built 1996

$119,000

List Price

$980

$882 - $1.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $105.78
  • 3 Days on Market
  • MLS # : 14508880
  • Updated Date : 01/29/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,125 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Remarks: SELLING AS IS the home has been well maintained and updated kitchen this home still needs some updates but the owner is relocating and not able to make repairs with the 3 bedrooms and 2 baths this home is great for a first time buyer the open floor plan makes for easy access to the living kitchen combo and with the large fenced yard it is just right for your pets although the home has no garage or carport there is more than enough room to build one and with the nice covered porch you can enjoy the outdoors also the open back patio is the spot to grill and enjoy the tall trees and shade

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: Indian Harbor

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190k200kPrice in $70k200k

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

Neighborhood: Indian Harbor

No Data Available.

* 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
Mabank High School High Regular 1,023 71 5

Mabank High School

  • Education Level: High
  • # of students: 1,023
  • # of teachers: 71
5
GreatSchools Rating
 

$107,100$130,900$119,000

PURCHASE PRICE

$882$1,078$980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $980
EXPENSES Loan Payment -$413
Property Tax -$199
Property Insurance -$90
Property Management Fees -$99
CASH FLOW
$179

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.

$119,000

PROJECTED PRICE

$980

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,285

INVESTMENT

$37,285

Down Payment
$29,750
Rehab Estimate
$5,750
Closing Costs
$1,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$413

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $29,750
Loan Amount $89,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$18,165

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $980

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $919

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$500
1$5002$9803$1,0504$1,250
$1,250
RENT COMPS ANALYSIS
  • 133 Pierce Drive Mabank, TX 2
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $980
    • $0.87
    •  
  • 172 Natchez Trail Mabank, TX 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1999
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $500
    • $0.42
    •  
  • 112 Trailwood Road Enchanted Oaks, TX 3
    • 3 beds 2 baths ∙ 1,142 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,142 Sqft ∙ Built 1981
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.92
    •  
  • 135 Pierce Drive Mabank, TX 4
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1996
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.11
    •  
PROPERTY LISTING DETAILS
Janice Dodson
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508880
Last Updated: 01/29/2021
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