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1437 Ethan Circle Midlothian, TX 76065

3 Beds 2 Baths 2,225 sqft Built 2021

$445,500

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $200.22
  • 2 Days on Market
  • MLS # : 14460787
  • Updated Date : 11/21/2020 at 08:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,225 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Welcome to Midlothian's newest and prestigious LOCK AND LEAVE community! Enjoy the BEAUTIFUL CLUBHOUSE AND GORGEOUS POOL in this new neighborhood that is right in town! Get to know all your neighbors in this COZY community with rear-entry garage and alley. Custom home built by LIN TYLER CUSTOM HOMES will know your socks off! Detailed out to the max enjoy all your comforts of home in this beautiful home with three bedrooms and roomy living area. Enjoy entertaining with the HUGE KITCHEN AND ISLAND and who wants to take care of a yard when there's so much else to do? HOA takes care of it all. Enjoy LIFE WITHOUT THE HASSLE! This home available in FEB 2021, still time to customize! Beautiful treeline lot.

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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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$400,950$490,050$445,500

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,644
Property Tax -$972
Property Insurance -$156
HOA -$100
Property Management Fees -$99
CASH FLOW
-$921

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$445,500

PROJECTED PRICE

$2,050

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,058

INVESTMENT

$120,058

Down Payment
$111,375
Rehab Estimate
$2,000
Closing Costs
$6,683

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,644

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,375
Loan Amount $334,125
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$45

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,097

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$2,0503$2,0954$2,0965$2,500
$2,500
RENT COMPS ANALYSIS
  • 1437 Ethan Circle Midlothian, TX 2
    • 3 beds 2 baths ∙ 2,225 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,225 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 709 Elk Horn Drive Midlothian, TX 1
    • 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,978 Sqft ∙ Built 2005
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 3202 Meadow Ridge Drive Midlothian, TX 3
    • 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 2014
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.97
    •  
  • 2209 Goose Down Court Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2004
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,096
    • $0.90
    •  
  • 4413 Dandelion Lane Midlothian, TX 5
    • 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2020
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Andria Moore
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 #: 14460787
Last Updated: 11/21/2020
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