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1505 Kite Street Desoto, TX 75115

4 Beds 3 Baths 2,747 sqft Built 2020

$306,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $111.72
  • 3 Days on Market
  • MLS # : 14481265
  • Updated Date : 12/04/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,747 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

Meet our most spacious plan at Hampton Meadows, the Cooper plan. This home has 4 bedrooms, 2.5 baths, an open family room and an upstairs gameroom. The Cooper comes with incredible upgrades all included such as stainless steel kitchen appliances, granite countertops, oversized wood cabinets, 2” faux wood blinds on all operable windows and an attached two-car garage with a Wi-Fi-enabled garage door opener installed. In addition to incredible curb appeal, the Cooper comes with a beautifully landscaped front yard and fully fenced back yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Hampton Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k259k

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

Neighborhood: Hampton Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451802

* 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
 

$276,210$337,590$306,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,132
Property Tax -$733
Property Insurance -$186
HOA -$28
Property Management Fees -$99
CASH FLOW
-$269

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$306,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.62%

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) 3.00%
Vacancy 6.69%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$83,329

INVESTMENT

$83,329

Down Payment
$76,725
Rehab Estimate
$2,000
Closing Costs
$4,604

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,132

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,725
Loan Amount $230,175
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,889

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$1,7953$1,8954$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 1505 Kite Street Desoto, TX 5
    • 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.70
    •  
  • 749 Horseshoe Court Desoto, TX 1
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2006
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.66
    •  
  • 773 Eldorado Drive Desoto, TX 2
    • 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 1206 Quincy Drive Glenn Heights, TX 3
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 2003
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.70
    •  
  • 2125 Trishia Lane Glenn Heights, TX 4
    • 3 beds 3 baths ∙ 2,674 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,674 Sqft ∙ Built 2019
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.71
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481265
Last Updated: 12/04/2020
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