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14624 Flanders Court Addison, TX 75001

3 Beds 2 Baths 1,736 sqft Built 1995

$400,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $230.41
  • 5 Days on Market
  • MLS # : 14460223
  • Updated Date : 10/30/2020 at 12:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,736 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

Soft close high end Maple cabinets, hand scraped hardwoods, gutters, landscaping, interior paint, kitchen appliances, fireplace, bathrooms and kitchens all fully remodeled, interior paint throughout; all completed in 2020! Remodeled thoroughly by the long time owners, this property is the definition of move in ready and everything was done to extraordinary detail. The neighborhood features a gym with 1 time $10 LIFETIME membership, amazing location to Belt line or 635 and HOA maintained front yard including the sprinklers! Installed in 2017, the HVAC is one of the older components of this home. It looks great and will be worry free for years, don't miss this opportunity to call Grand Addison home!

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: Addison

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k363k

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

Neighborhood: Addison

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262409

* 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
George Herbert Walker Bush Elementary School Primary Regular 667 41 NA
E.d. Walker Middle School Middle Regular 748 46 3
W. T. White High School High Regular 2,290 134 4

George Herbert Walker Bush Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 41
NA
GreatSchools Rating

E.d. Walker Middle School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 46
3
GreatSchools Rating

W. T. White High School

  • Education Level: High
  • # of students: 2,290
  • # of teachers: 134
4
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,476
Property Tax -$873
Property Insurance -$128
HOA -$6
Property Management Fees -$99
CASH FLOW
-$311

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.

$400,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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-$10k-$8.0k-$6.0k-$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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,053

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,270

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,2703$2,3004$2,3955$2,450
$2,450
RENT COMPS ANALYSIS
  • 14624 Flanders Court Addison, TX 2
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.31
    •  
  • 14588 Whitman Court Addison, TX 1
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 1994
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.23
    •  
  • 4029 Rive Lane Addison, TX 3
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 1982
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.37
    •  
  • 14609 Ponder Court Addison, TX 4
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1995
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.33
    •  
  • 3883 Emerald Court Addison, TX 5
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1993
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.30
    •  
PROPERTY LISTING DETAILS
Benjamin Lauer
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460223
Last Updated: 10/30/2020
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