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1408 Heritage Hill Drive Desoto, TX 75115

3 Beds 3 Baths 2,473 sqft Built 1987

INVESTimate

$294,900

List Price

$1,870

$1,683 - $2,057

Rent Est.

$317,224  ( +7.57%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $119.25
  • 6 Days on Market
  • MLS # : 14417293
  • Updated Date : 08/23/2020 at 10:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,473 sqft
  • Baths : 2 full , 1 half
Listing Agent

Anthony Long Realty

Listing Agent's Description

Absolutely Awesome!!!! Cul De Sac lot in the Beautiful Well established Windmill Hill Addition Luxurious marble floored foyer, Elegant Formal Area with raised ceilings and floor to ceiling windows. Continue your tour into the great room for entertainment enjoy the inviting wood burning fireplace adjacent to a spacious breakfast area overlooking a Fabulous kitchen with upgraded granite counters stone back splash stainless appliances designer light fixtures and wood blinds custom window treatments throughout. High Efficiency Double Hung windows Recently Installed. Hardwood floors in bedrooms hallways,and living area, designer tile in baths and game room Owners Suite has Absolutely Grand Amenities!!

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: Windmill Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $122k292k

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

Neighborhood: Windmill Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10602108

* 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
Brandenburg Intermediate School Primary Regular 540 34 4
Byrd Middle School Middle Regular 786 48 5
Duncanville High School High Regular 3,923 238 3

Brandenburg Intermediate School

  • Education Level: Primary
  • # of students: 540
  • # of teachers: 34
4
GreatSchools Rating

Byrd Middle School

  • Education Level: Middle
  • # of students: 786
  • # of teachers: 48
5
GreatSchools Rating

Duncanville High School

  • Education Level: High
  • # of students: 3,923
  • # of teachers: 238
3
GreatSchools Rating
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,088
Property Tax -$705
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
-$192

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.

$294,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.57%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,899

INVESTMENT

$83,899

Down Payment
$73,725
Rehab Estimate
$5,750
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,096

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,016

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,8953$1,9954$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 1408 Heritage Hill Drive Desoto, TX 1
    • 3 beds 3 baths ∙ 2,473 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,473 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.76
    •  
  • 1416 Meadow Vista Drive Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1993
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 1023 Essex Drive Cedar Hill, TX 3
    • 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 1994
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 1130 Suffolk Lane Cedar Hill, TX 4
    • 4 beds 3 baths ∙ 2,801 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,801 Sqft ∙ Built 2000
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.75
    •  
  • 817 Edgewood Drive Desoto, TX 5
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2006
    property image
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Anthony Long
Anthony Long Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417293
Last Updated: 08/23/2020
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