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1504 Kari Ann Drive Cedar Hill, TX 75104

4 Beds 2 Baths 2,265 sqft Built 1988

$289,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $127.99
  • 3 Days on Market
  • MLS # : 14464959
  • Updated Date : 11/06/2020 at 22:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,265 sqft
  • Baths : 2 full
Listing Agent

Re/max Four Corners

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST & BEST BY 5 PM, 11-8. Oversized corner lot, outdoor living, sparkling pool! Situated in a quiet, heavily treed neighborhood just off US 67 with easy access to all major highways! This original owner home has been loved, and is ready for the next family to do the same. Open floorpan makes entertaining easy. Unique touches throughout the home give character without sacrificing function. Take a peek at the brick walls in the 4th bedroom that offer access to the patio, or the bonus room over the garage that is heated and cooled that would make a perfect theater, reading room, man cave, playroom, or fort!

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: Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Kingswood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10122171

* 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
Lake Ridge Elementary School Primary Regular 397 23 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 23
5
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,070
Property Tax -$659
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
-$96

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.

$289,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$8,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,8004$1,8005$1,890
$1,890
RENT COMPS ANALYSIS
  • 1504 Kari Ann Drive Cedar Hill, TX 5
    • 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,265 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.83
    •  
  • 1017 Alden Drive Cedar Hill, TX 1
    • 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 1997
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 1217 Cathey Street Cedar Hill, TX 2
    • 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,370 Sqft ∙ Built 2000
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 1000 Neptune Court Cedar Hill, TX 3
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1994
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 1228 Carberry Street Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 2000
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Matt Wandersee
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464959
Last Updated: 11/06/2020
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