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14 Meadowlake Drive Heath, TX 75032

5 Beds 5 Baths 3,560 sqft Built 1981

$699,999

List Price

$3,770

$3.5K - $4K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $196.63
  • 5 Days on Market
  • MLS # : 14489323
  • Updated Date : 12/23/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,560 sqft
  • Baths : 4 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

This is a must-see home with an open living space floorplan complete with updated finishes and custom floor to ceiling windows for panoramic views (there is a seasonal lake view). With 5 bedrooms, 4.5 baths, 2 living and dining areas you have plenty of space to relax or entertain. The primary bath has Calacatta marble countertops and a separate shower with body sprays. The backyard is a private oasis with a sparkling pool and large deck. Also, the detached three-room, half bath addition offers 640 extra square feet of excellent flex space for a home office with a workout room and storage or can be used as a guest suite. A new pool pump and new attic insulation top things off. Schedule a tour today!

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: Meadowlake Village

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k735k

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

Neighborhood: Meadowlake Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400360038004000Rent in $11264042

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$629,999$769,999$699,999

PURCHASE PRICE

$3,393$4,147$3,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,770
EXPENSES Loan Payment -$2,583
Property Tax -$1,253
Property Insurance -$233
Property Management Fees -$99
CASH FLOW
-$397

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.

$699,999

PROJECTED PRICE

$3,770

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,250

INVESTMENT

$191,250

Down Payment
$175,000
Rehab Estimate
$5,750
Closing Costs
$10,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $175,000
Loan Amount $524,999
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$12,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,770

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $3,685

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,7503$3,770
$3,770
RENT COMPS ANALYSIS
  • 14 Meadowlake Drive Heath, TX 3
    • 5 beds 5 baths ∙ 3,560 Sqft ∙ Built 1981 5 beds 5 baths ∙ 3,560 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $3,770
    • $1.06
    •  
  • 210 Myers Road Heath, TX 1
    • 4 beds 3 baths ∙ 3,387 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,387 Sqft ∙ Built 2001
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.03
    •  
  • 1 Pintail Point Heath, TX 2
    • 4 beds 4 baths ∙ 3,600 Sqft ∙ Built 1984 4 beds 4 baths ∙ 3,600 Sqft ∙ Built 1984
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.04
    •  
PROPERTY LISTING DETAILS
Noelle Coats
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489323
Last Updated: 12/23/2020
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