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146 Kentucky Drive Willow Park, TX 76087

4 Beds 2 Baths 2,151 sqft Built 2018

$327,500

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $152.25
  • 2 Days on Market
  • MLS # : 14487849
  • Updated Date : 12/19/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,151 sqft
  • Baths : 2 full
Listing Agent

Mitchell Real Estate & Management, Llc

Listing Agent's Description

ALEDO ISD! Gorgeous Home With 4 Bedrooms & 2 Baths PLUS Office or Playroom in an Almost Built Out Highly Desired Neighborhood. Beautiful Open Concept Living Room With Hand Scraped 2.25-Inch Hardwood Flooring, Vaulted Ceiling, Wood Beams, Shiplap, & Gas Log Fireplace. Gourmet Kitchen Features Granite Countertops, Stainless Steel Appliances, Decorative Lighting, Walk-In Pantry & Large Island. Master Boasts Dual Sinks, Large Separate Shower, Garden Tub & Large Walk-in Closet! Enjoy Outdoor Fun & Entertaining with a Covered Back Porch and Large Privacy Fenced Backyard. Easy Access to I-20, Restaurants & Shopping.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$294,750$360,250$327,500

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,208
Property Tax -$750
Property Insurance -$152
Property Management Fees -$99
CASH FLOW
-$28

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.

$327,500

PROJECTED PRICE

$2,180

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,538

INVESTMENT

$92,538

Down Payment
$81,875
Rehab Estimate
$5,750
Closing Costs
$4,913

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,208

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,875
Loan Amount $245,625
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,167

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,1004$2,1805$2,350
$2,350
RENT COMPS ANALYSIS
  • 146 Kentucky Drive Willow Park, TX 4
    • 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,151 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.01
    •  
  • 111 Singletree Lane Willow Park, TX 1
    • 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,003 Sqft ∙ Built 2008
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
  • 237 Carriage Drive Willow Park, TX 2
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 173 Overland Trail Willow Park, TX 3
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 2006
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 165 Melbourne Drive Willow Park, TX 5
    • 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 2020
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.04
    •  
PROPERTY LISTING DETAILS
Patti Hale
Mitchell Real Estate & Management, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487849
Last Updated: 12/19/2020
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