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1419 Gentle Rain Drive Lancaster, TX 75134

4 Beds 3 Baths 2,384 sqft Built 2003

$238,500

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $100.04
  • 2 Days on Market
  • MLS # : 14482150
  • Updated Date : 12/12/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,384 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Beautiful 4-2.5-2 well-maintained home! This move-in ready home features large rooms with lots of closets! Big backyard, boasts a new fence, landscaping and open patio! Upstairs you will find large game room, bathroom, and three bedrooms. Enjoy the large utility room and pantry. Other features include wood-burning fireplace, solar screens, recent paint; carpet, wood and tile flooring. Rear entry garage with long driveway.

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: Meadowview

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadowview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Houston Elementary School Primary Regular 681 37 5
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Houston Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 37
5
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$214,650$262,350$238,500

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$880
Property Tax -$607
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
$29

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.

$238,500

PROJECTED PRICE

$1,780

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
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-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,953

INVESTMENT

$68,953

Down Payment
$59,625
Rehab Estimate
$5,750
Closing Costs
$3,578

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$880

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,625
Loan Amount $178,875
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,746

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,615
1$1,6152$1,7253$1,7804$1,7955$1,845
$1,845
RENT COMPS ANALYSIS
  • 1419 Gentle Rain Drive Lancaster, TX 3
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.75
    •  
  • 1034 April Showers Lane Lancaster, TX 1
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 2005
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,615
    • $0.68
    •  
  • 2916 Rising Crest Drive Lancaster, TX 2
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 2005
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.72
    •  
  • 2104 Stonewood Drive Lancaster, TX 4
    • 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,240 Sqft ∙ Built 2014
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 1408 Gentle Rain Drive Lancaster, TX 5
    • 3 beds 2 baths ∙ 2,512 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,512 Sqft ∙ Built 2003
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.73
    •  
PROPERTY LISTING DETAILS
Terry Popham
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482150
Last Updated: 12/12/2020
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