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1420 Middleton Drive Cedar Hill, TX 75104

3 Beds 3 Baths 2,300 sqft Built 1986

$239,990

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $104.34
  • 2 Days on Market
  • MLS # : 14500902
  • Updated Date : 01/16/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,300 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Showings begin Saturday at Noon Great home on a corner lot in a quiet neighborhood with great city park and walking paths nearby. The grand vaulted ceiling with open stairway and balcony greets you as you enter. This updated home has room for everyone, boasting three living areas. The upstairs living area, could easily be a 4th bedroom. The large kitchen features granite countertops and a eat in kitchen. It also includes a large backyard! Perfect for a family looking for room to grow. The memories are waiting to be made here! Come see for yourself.

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: Sweetbriar at High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Sweetbriar at High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10121819

* 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
High Pointe Elementary School Primary Regular 565 30 3
Bessie Coleman Middle School Middle Regular 588 35 4
Cedar Hill High School High Regular 1,731 105 2

High Pointe Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 30
3
GreatSchools Rating

Bessie Coleman Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 35
4
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$215,991$263,989$239,990

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$834
Property Tax -$546
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
$171

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.

$239,990

PROJECTED PRICE

$1,810

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,347

INVESTMENT

$69,347

Down Payment
$59,998
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,998
Loan Amount $179,993
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$24,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,806

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8004$1,8105$1,995
$1,995
RENT COMPS ANALYSIS
  • 1420 Middleton Drive Cedar Hill, TX 4
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.79
    •  
  • 231 Trees Drive Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 2,242 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,242 Sqft ∙ Built 2001
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 1421 Horton Drive Cedar Hill, TX 2
    • 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 1986
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 932 Sleepy Hollow Drive Cedar Hill, TX 3
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 1981
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 1322 Boyd Street Cedar Hill, TX 5
    • 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,480 Sqft ∙ Built 1990
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Paula Sanders
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500902
Last Updated: 01/16/2021
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