Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1417 Meadow Lane Midlothian, TX 76065

4 Beds 2 Baths 2,410 sqft Built 1985

$349,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $145.19
  • 4 Days on Market
  • MLS # : 14507392
  • Updated Date : 01/28/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,410 sqft
  • Baths : 2 full
Listing Agent

Listing Spark

Listing Agent's Description

This is the home you have been looking for! Top-to-bottom custom renovation in a peaceful and established neighbourhood. New 30-year roof and HVAC system. Check out the thoughtful cedar touches throughout. Enjoy the high-end lifestyle in the massive kitchen with new shaker cabinets and gorgeous quartz countertops! 4 sun-filled bedrooms will ensure that there is space for the whole family and guests. Custom master bath appointments are sure to please with an oversized closet and separate vanity area along with tasteful and trendy finishes. The master bedroom also gives you patio access and a delightful view of the pool. Do not delay-this home is sure to go fast!

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: Northridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k275k

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

Neighborhood: Northridge

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,215
Property Tax -$764
Property Insurance -$166
Property Management Fees -$99
CASH FLOW
-$64

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.

$349,900

PROJECTED PRICE

$2,180

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,180
$2,180
RENT COMPS ANALYSIS
  • 1417 Meadow Lane Midlothian, TX 3
    • 4 beds 2 baths ∙ 2,410 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,410 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.90
    •  
  • 1705 Millbrook Drive Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,120 Sqft ∙ Built 2005
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 1809 Sabine Drive Midlothian, TX 2
    • 4 beds 2 baths ∙ 2,194 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,194 Sqft ∙ Built 2004
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507392
Last Updated: 01/28/2021
BESbswy