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1412 Kite Street Desoto, TX 75115

3 Beds 2 Baths 1,706 sqft Built 2020

$263,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $154.69
  • 4 Days on Market
  • MLS # : 14466409
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Clark by LGI Homes is our newest plan in the community of Hampton Meadows. This 3-bedroom, 2-bath home features an open and functional layout with a large family room and fully loaded kitchen leading to a spacious dining area. The Clark plan comes with incredible upgrades all included such as granite countertops, stainless steel appliances, designer wood cabinets with crown molding and a Wi-Fi-enabled garage door opener. In addition, this new home has a beautifully landscaped front yard and a fully fenced back yard perfect for enjoying outdoor activities.

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: Hampton Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k259k

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

Neighborhood: Hampton Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451802

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$237,510$290,290$263,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$974
Property Tax -$631
Property Insurance -$126
HOA -$28
Property Management Fees -$99
CASH FLOW
-$457

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$263,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$9.0k-$8.0k-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,934

INVESTMENT

$71,934

Down Payment
$65,975
Rehab Estimate
$2,000
Closing Costs
$3,959

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,975
Loan Amount $197,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,412

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5253$1,5954$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 1412 Kite Street Desoto, TX 1
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 1633 Mockingbird Lane Desoto, TX 2
    • 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 2017
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.81
    •  
  • 1508 Yellowbird Court Desoto, TX 3
    • 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,919 Sqft ∙ Built 2000
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 608 Skyflower Court Desoto, TX 4
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.81
    •  
  • 608 Duke Drive Desoto, TX 5
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466409
Last Updated: 11/05/2020
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