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141 Paradise Cove Shady Shores, TX 76208

4 Beds 3 Baths 2,976 sqft Built 1993

$625,000

List Price

$3,300

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $210.01
  • 2 Days on Market
  • MLS # : 14540648
  • Updated Date : 03/27/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,976 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Lakefront living at its finest! Large picture windows greet you with unobstructed lake views from the moment you walk in the front door. Updated and well maintained home features wrap around back porch and additional 4 season enclosed patio. Enjoy your oversized hot tub while relaxing to stunning lake views. There is a boat or rv carport off the drive with attached workshop w electric. Master bedroom has large sitting area with a lake view. 3rd car bay has been turned into home gym. New roof installed in 2020 and gutters have leaf guards. Home is located inside stunning HOA community but not subject to mandatory HOA.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Cielo Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k475k

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

Neighborhood: Cielo Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263172

* 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
Olive Stephens Elementary School Primary Regular 536 38 6
Bettye Myers Middle School Middle Unknown 828 54 NA
Billy Ryan High School High Regular 2,409 170 5

Olive Stephens Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 38
6
GreatSchools Rating

Bettye Myers Middle School

  • Education Level: Middle
  • # of students: 828
  • # of teachers: 54
NA
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,970$3,630$3,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,300
EXPENSES Loan Payment -$2,171
Property Tax -$1,083
Property Insurance -$199
Property Management Fees -$99
CASH FLOW
-$252

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.

$625,000

PROJECTED PRICE

$3,300

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$13,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,300

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $3,467

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,795
1$2,7952$3,3003$3,850
$3,850
RENT COMPS ANALYSIS
  • 141 Paradise Cove Shady Shores, TX 2
    • 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,976 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.11
    •  
  • 109 Palomino Court Shady Shores, TX 1
    • 5 beds 4 baths ∙ 2,822 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,822 Sqft ∙ Built 2001
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.99
    •  
  • 132 N Garza Road Shady Shores, TX 3
    • 3 beds 2 baths ∙ 2,865 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,865 Sqft ∙ Built 2003
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.34
    •  
PROPERTY LISTING DETAILS
Lesley Jacoby
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540648
Last Updated: 03/27/2021
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