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1414 Indian Wells Trail Midlothian, TX 76065

3 Beds 2 Baths 1,450 sqft Built 2001

$220,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $151.72
  • 2 Days on Market
  • MLS # : 14466814
  • Updated Date : 11/07/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,450 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Nestled in Overlook Estates is an Immaculate 3-2-2 in sought after Midlothian ISD. NEW October 2020: Exterior painted, Interior floor to ceiling paint, wood laminate flooring, windows in dining, kitchen & living room, carpet in all three bedrooms, new shower door in master bath, baseboards, tub, surround and lighting in guest bathroom, front door painted, all new locks. Back door replaced that leads to the FANTASTIC 23x14 covered patio, perfect for entertaining or relaxing in the private landscaped back yard. Roof 3yrs old, Trane HVAC 6yrs old.

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: Overlook

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k275k

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

Neighborhood: Overlook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9142063

* 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
J.a. Vitovsky Elementary Primary Regular 646 47 4
Walnut Grove Middle School Middle Regular 1,014 55 8
Midlothian High School High Regular 2,390 141 6

J.a. Vitovsky Elementary

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 47
4
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$812
Property Tax -$480
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
-$42

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.

$220,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

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$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$8,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4603$1,6954$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 1414 Indian Wells Trail Midlothian, TX 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.01
    •  
  • 1206 Misty Meadow Drive Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2000
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 1417 Indian Wells Trail Midlothian, TX 3
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 2001
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
  • 1321 Yukon Midlothian, TX 4
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 1309 Mallard Run Midlothian, TX 5
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2002
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Amy Zirbel
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466814
Last Updated: 11/07/2020
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