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1369 Lakeview Drive Southlake, TX 76092

4 Beds 4 Baths 3,873 sqft Built 1986

INVESTimate

$724,900

List Price

$4,500

$4,250 - $4,750

Rent Est.

$757,665  ( +4.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $187.17
  • 3 Days on Market
  • MLS # : 14417897
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,873 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

UPDATED CUSTOM 4-3.1-3, STUDY, 3 LIVING, FORMAL DINING, 2 WBFP W GAS STARTERS,GUNITE DIVING POOL & SPA ON A PRIVATE, SECLUDED ACRE AND HALF! CROSS TIMBER HILLS! 17 SEER HVAC-2010-2015,ADDED RETURNS & VENTS + RADIATE BARRIER. AVG. ELECTRIC BILL $110 A MO. KITCHEN UPDATED WITH GRANITE, SS, VENTAHOOD, 5 BURNER GAS COOKTOP, CONVECTION OVENS. LUXURY PLANK VINYL DOWNSTAIRS, EXCEPT BEDROOMS & BATHS. CARPET REPLACED UPSTAIRS AND IN GUEST BEDROOM DOWN. HAND TURNED IRON SPINDLES ON STAIRS. BALCONY OFF OF BEDROOM AND HALL UPSTAIRS, NEW. LIBRARY W SHELVES UPSTAIRS. JACK & JILL BATH,TWO BEDROOMS UP. SKYLIGHTS AND LG WINDOWS FOR BRIGHT HOME. FRESH PAINT,GRANITE IN MASTER BATH & GUEST BATH. SAUNA IN MASTER. TRAVERTINE FLRS.

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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: Cross Timber Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k722k

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

Neighborhood: Cross Timber Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $11264415

* 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
Carroll Elementary School Primary Regular 542 40 10
Carroll Middle School Middle Regular 659 44 10
Carroll Middle School High Regular 659 44 10

Carroll Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 40
10
GreatSchools Rating

Carroll Middle School

  • Education Level: Middle
  • # of students: 659
  • # of teachers: 44
10
GreatSchools Rating

Carroll Middle School

  • Education Level: High
  • # of students: 659
  • # of teachers: 44
10
GreatSchools Rating
 

$652,410$797,390$724,900

PURCHASE PRICE

$4,050$4,950$4,500

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,500
EXPENSES Loan Payment -$2,675
Property Tax -$1,463
Property Insurance -$251
Property Management Fees -$99
CASH FLOW
$13

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.

$724,900

PROJECTED PRICE

$4,500

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.52%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,849

INVESTMENT

$197,849

Down Payment
$181,225
Rehab Estimate
$5,750
Closing Costs
$10,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,225
Loan Amount $543,675
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$40,934

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,500

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $4,541

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$4,250
1$4,2502$4,3503$4,5004$4,5005$4,890
$4,890
RENT COMPS ANALYSIS
  • 1369 Lakeview Drive Southlake, TX 4
    • 4 beds 4 baths ∙ 3,873 Sqft ∙ Built 1986 4 beds 4 baths ∙ 3,873 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.16
    •  
  • 1700 Water Lily Drive Southlake, TX 1
    • 4 beds 4 baths ∙ 3,550 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,550 Sqft ∙ Built 1999
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,250
    • $1.20
    •  
  • 700 Dover Place Southlake, TX 2
    • 5 beds 5 baths ∙ 4,065 Sqft ∙ Built 1994 5 beds 5 baths ∙ 4,065 Sqft ∙ Built 1994
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,350
    • $1.07
    •  
  • 206 Bob O Link Southlake, TX 3
    • 5 beds 4 baths ∙ 3,699 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,699 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.22
    •  
  • 301 Lovegrass Lane Southlake, TX 5
    • 5 beds 4 baths ∙ 4,063 Sqft ∙ Built 1996 5 beds 4 baths ∙ 4,063 Sqft ∙ Built 1996
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,890
    • $1.20
    •  
PROPERTY LISTING DETAILS
Wilene Norris
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417897
Last Updated: 08/25/2020
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