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1500 Liberty Lane Mesquite, TX 75149

3 Beds 2 Baths 1,240 sqft Built 1992

$195,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $157.26
  • 5 Days on Market
  • MLS # : 14512032
  • Updated Date : 02/03/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Tng Realty

Listing Agent's Description

READY TO MOVE IN. Nice starter home located at a great location of Mesquite. The home is next to US 80 for easy access to main highways but it is also far enough to be quiet. Right behind Walmart Supercenter. Numerous restaurants and retails around. Just a few minutes away from Samuell Farm Trail for outdoor enthusiasm. No carpet in the house. Plenty of natural light through out.

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: Hillcrest Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k243k

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

Neighborhood: Hillcrest Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9051734

* 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
Tisinger Elementary School Primary Regular 872 53 4
Wilkinson Middle School Middle Regular 928 64 6
Mesquite High School High Regular 2,851 168 4

Tisinger Elementary School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 53
4
GreatSchools Rating

Wilkinson Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 64
6
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$677
Property Tax -$473
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
$32

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

$1,380

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$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 55% 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

4.92

YEARS SAVED

$9,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,376

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3803$1,3904$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 1500 Liberty Lane Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.11
    •  
  • 1718 Hancock Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1985
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 240 Conger Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1983
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.11
    •  
  • 201 Conger Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1983
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 1521 Liberty Lane Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1992
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.15
    •  
PROPERTY LISTING DETAILS
Cindy Ton
Tng Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512032
Last Updated: 02/03/2021
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