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1505 Shady Lane Decatur, TX 76234

3 Beds 2 Baths 1,632 sqft Built 1990

$234,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $143.93
  • 4 Days on Market
  • MLS # : 14503211
  • Updated Date : 01/21/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,632 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Charming home in established neighborhood close to dining and shopping in the heart of Decatur. Enjoy the beautiful trees and blooming flowers throughout the year but in the spring the landscaping is amazing! The huge back yard is an outdoor retreat including covered outdoor living, huge smoker pit and storage shed! Home has a built in sunroom, owners used as a formal dining room. Refrigerator is left for new owner. Come check out this quaint home!#realtytown3

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

Zip Code: 76234

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k243k

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

Zip Code: 76234

ZipNIR Market*Market2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Decatur High School High Regular 897 59 5

Decatur High School

  • Education Level: High
  • # of students: 897
  • # of teachers: 59
5
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$816
Property Tax -$485
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$48

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.

$234,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.6%
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-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$14,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,822

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5703$1,6954$1,725
$1,725
RENT COMPS ANALYSIS
  • 1505 Shady Lane Decatur, TX 2
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.96
    •  
  • 1304 S Cliff Street Decatur, TX 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1975
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.14
    •  
  • 508 Valleyridge Court Decatur, TX 3
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1993
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.06
    •  
  • 310 Ridge View Court Decatur, TX 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2005
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.15
    •  
PROPERTY LISTING DETAILS
Jennifer Durrett
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503211
Last Updated: 01/21/2021
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