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1413 Cherokee Rose Lane Burleson, TX 76028

3 Beds 2 Baths 1,253 sqft Built 2003

INVESTimate

$195,900

List Price

$1,360

$1,224 - $1,496

Rent Est.

$215,980  ( +10.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $156.34
  • 3 Days on Market
  • MLS # : 14419336
  • Updated Date : 08/25/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,253 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Burleson

Listing Agent's Description

Beautiful, Well Maintained Home! Perfect for new home buyers! Very open living, dining and kitchen area. Bedrooms are nice size with 2 full size bathrooms. Utility has great storage with lots of hanging space. Large backyard with storage barn and sprinkler system. Extra storage space at front of garage. Come see this Adorable Home Today! For a scheduled appointment Call 817-903-7909

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: Burleson Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $111k258k

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

Neighborhood: Burleson Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$176,310$215,490$195,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$723
Property Tax -$490
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
-$51

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.

$195,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.25%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,664

INVESTMENT

$57,664

Down Payment
$48,975
Rehab Estimate
$5,750
Closing Costs
$2,939

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$723

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,975
Loan Amount $146,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,203

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3603$1,4004$1,4455$1,495
$1,495
RENT COMPS ANALYSIS
  • 1413 Cherokee Rose Lane Burleson, TX 2
    • 3 beds 2 baths ∙ 1,253 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,253 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.09
    •  
  • 928 Crowder Drive Crowley, TX 1
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2005
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 524 Meadowcrest Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1999
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 254 Adams Drive Crowley, TX 4
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 2004
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.96
    •  
  • 733 Mesa Vista Drive Crowley, TX 5
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2003
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.95
    •  
PROPERTY LISTING DETAILS
Katie Gary
Jp And Associates Burleson
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419336
Last Updated: 08/25/2020
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