Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1504 Parrot Court Desoto, TX 75115

3 Beds 2 Baths 1,345 sqft Built 1999

$189,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $140.52
  • 2 Days on Market
  • MLS # : 14488739
  • Updated Date : 12/19/2020 at 09:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,345 sqft
  • Baths : 2 full
Listing Agent

Brownstone Real Estate Group

Listing Agent's Description

Attractive, affordable move in ready three bedrooms, two baths, two car garage home. Spaciest living, dining, and main bedroom. Split bedroom with master bedroom as owner retreat at the rear of the home. Enjoy future home savings with the Brand-new Roof, Carpet, AC system and a fresh coat of paint. The back patio is idea for outside entertaining. You do not want to miss out on this affordable Cul de sac Beauty.

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: 75115

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451741

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$697
Property Tax -$452
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$107

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.

$189,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$18,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,202

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,4753$1,5004$1,525
$1,525
RENT COMPS ANALYSIS
  • 1504 Parrot Court Desoto, TX 1
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.09
    •  
  • 1312 Sparrow Court Desoto, TX 2
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1986
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
  • 1401 Mockingbird Lane Desoto, TX 3
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1996
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 640 Priscilla Lane Desoto, TX 4
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1980
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jeremiah Hatch
Brownstone Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488739
Last Updated: 12/19/2020
BESbswy