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1406 Baker Drive Cedar Hill, TX 75104

3 Beds 3 Baths 2,688 sqft Built 1987

INVESTimate

$300,000

List Price

$1,840

$1,656 - $2,024

Rent Est.

$331,320  ( +10.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $111.61
  • 7 Days on Market
  • MLS # : 14417336
  • Updated Date : 08/24/2020 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,688 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

GORGEOUS 3 BEDROOM, 2.5 BATHROOM HOME IN THE HEART OF CEDAR HILL! Fall in love with this warm and inviting floor plan graced with beautiful floors, arched entries, and spacious living areas. Cook up something delicious in the cheery kitchen offering gorgeous countertops, stainless steel appliances, and an island. Escape to your primary retreat where you can enjoy the garden tub, dual sinks, and a large walk-in closet. Enjoy the outdoors in the large backyard playing or spending quality time with friends or family. Fantastic location near restaurants, parks, and just minutes from Joe Pool Lake! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: Meadows at High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Meadows at High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10121864

* 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
High Pointe Elementary School Primary Regular 565 30 3
Bessie Coleman Middle School Middle Regular 588 35 4
Cedar Hill High School High Regular 1,731 105 2

High Pointe Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 30
3
GreatSchools Rating

Bessie Coleman Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 35
4
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,107
Property Tax -$682
Property Insurance -$183
Property Management Fees -$99
CASH FLOW
-$231

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.

$300,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.44%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8403$1,8754$1,8955$2,095
$2,095
RENT COMPS ANALYSIS
  • 1406 Baker Drive Cedar Hill, TX 2
    • 3 beds 3 baths ∙ 2,688 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,688 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.68
    •  
  • 7124 Cloverglen Drive Dallas, TX 1
    • 4 beds 2 baths ∙ 2,543 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,543 Sqft ∙ Built 1978
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.69
    •  
  • 436 Orchard Hill Drive Cedar Hill, TX 3
    • 4 beds 4 baths ∙ 2,733 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,733 Sqft ∙ Built 1999
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.69
    •  
  • 1359 White Tail Ridge Cedar Hill, TX 4
    • 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2006
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.69
    •  
  • 436 Sugar Mill Road Cedar Hill, TX 5
    • 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,751 Sqft ∙ Built 1998
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417336
Last Updated: 08/24/2020
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