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PROPERTY INFO
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
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Meadowlake Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$191,250
LOAN DETAILS
$2,583
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $175,000 |
| Loan Amount | $524,999 |
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
-
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
Redfin Corporation
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14489323
Last Updated: 12/23/2020
