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1421 Glendover Court Lancaster, TX 75146

3 Beds 3 Baths 2,628 sqft Built 2003

$259,999

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $98.93
  • 2 Days on Market
  • MLS # : 14518751
  • Updated Date : 03/06/2021 at 17:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,628 sqft
  • Baths : 2 full , 1 half
Listing Agent

2nd Chance Homebuying Program

Listing Agent's Description

Well kept, one owner home. Located in Established subdivision. All bedrooms upstairs, 2 full bath and 1 half bath. Study located downstairs that can be used for a bedroom with a large walk in closet. Large game room upstairs, formal dining, huge island in the kitchen. Giant master bedroom, a must see. Showings will start on Friday 19th.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Glendover Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Glendover Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211777

* 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
Rolling Hills Elementary School Primary Regular 621 35 5
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Rolling Hills Elementary School

  • Education Level: Primary
  • # of students: 621
  • # of teachers: 35
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
 

$233,999$285,999$259,999

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$903
Property Tax -$662
Property Insurance -$179
HOA -$18
Property Management Fees -$99
CASH FLOW
-$30

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.

$259,999

PROJECTED PRICE

$1,830

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
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-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $194,999
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8304$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 1421 Glendover Court Lancaster, TX 3
    • 3 beds 3 baths ∙ 2,628 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,628 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.70
    •  
  • 605 Edgewood Drive Lancaster, TX 1
    • 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 1987
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.69
    •  
  • 197 Rolling Court Lancaster, TX 2
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2006
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.71
    •  
  • 2212 Bridle Path Drive Lancaster, TX 4
    • 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 2002
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.77
    •  
  • 2608 Saint Andrews Drive Lancaster, TX 5
    • 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,707 Sqft ∙ Built 2002
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
Sonja Craver
2nd Chance Homebuying Program
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518751
Last Updated: 03/06/2021
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