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1501 Sage Court Mesquite, TX 75181

3 Beds 2 Baths 1,266 sqft Built 1992

$195,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $154.03
  • 2 Days on Market
  • MLS # : 14505355
  • Updated Date : 01/23/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,266 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Looking for a nice amount of comfort and tranquility for your first time homebuyer - you found the one! Located in sought after Creek Crossing just minutes to schools, parks and grocery shopping. This gem in quiet cul de sac street features a good size kitchen with built in microwave, gas stove, decorative backsplash, plenty of cabinets and counterspace and best of all a hidden built in desk. Spacious living with cozy fireplace. Master bdrm has own full bath and good size walk in closet. Low maintenance backyard with board on board fence, sprinkler system, covered patio and extra parking in back. Better hurry - come and see before its gone!!

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: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Pirrung Elementary School Primary Regular 473 30 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Pirrung Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 30
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

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

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$677
Property Tax -$473
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
$180

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$195,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$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

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

9

YEARS SAVED

$23,392

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,323

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,4954$1,5305$1,550
$1,550
RENT COMPS ANALYSIS
  • 1501 Sage Court Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.21
    •  
  • 1525 Osage Trail Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,366 Sqft ∙ Built 1988
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 2508 Bent Brook Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1993
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.05
    •  
  • 2015 Shoreline Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 1992
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
  • 2403 Weatherby Drive Mesquite, TX 5
    • 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1988
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
PROPERTY LISTING DETAILS
Claudia Mendoza
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505355
Last Updated: 01/23/2021
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