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1423 Springcrest Drive Mesquite, TX 75149

3 Beds 2 Baths 1,436 sqft Built 1987

$195,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $135.79
  • 1 Days on Market
  • MLS # : 14529956
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,436 sqft
  • Baths : 2 full
Listing Agent

Premier Legacy Real Estate Llc

Listing Agent's Description

Come see this lovely home! Make it yours and build new memories here or or possible investment property. Recent improvements include: Master bath remodeled in June of 2020 with tub, shower tile, all faucets, drain and floor tile all replaced. Roof installed 2016. Foundation repaired in 2016 with documents available. Updated dishwasher, microwave, and kitchen cabinet knobs. Hot water heater replaced in 2018.

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: Spring Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Spring Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
Frasier Middle School Middle Unknown NA
West Mesquite High School High Regular 1,935 129 3
West Mesquite High School High Unknown NA

Frasier Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

West Mesquite High School

  • Education Level: High
  • # of students: 1,935
  • # of teachers: 129
3
GreatSchools Rating

West Mesquite High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$677
Property Tax -$473
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
$141

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.

$195,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$18,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,598

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5254$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 1423 Springcrest Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 1016 Kory Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 1997
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.14
    •  
  • 1013 Chelsea Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1998
    property image
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.08
    •  
  • 1009 Kory Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1996
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 1020 Kory Drive Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 1997
    property image
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.14
    •  
PROPERTY LISTING DETAILS
Andrew Hubacek
Premier Legacy Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529956
Last Updated: 03/13/2021
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