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1512 Rodden Drive Decatur, TX 76234

4 Beds 2 Baths 1,884 sqft Built 2006

$265,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $140.66
  • 3 Days on Market
  • MLS # : 14472933
  • Updated Date : 11/21/2020 at 18:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Trinity Realty

Listing Agent's Description

MULTIPLE OFFERS, HIGHEST AND BEST BY SUNDAY AT 6!! This property is LOADED with everything you could possibly dream of, located in a desirable cul-de-sac'd neighborhood in close proximity to the BEST schools in Decatur!! With 4 full bedrooms, open and split style concept setting, and a massive backyard, you are guaranteed to make the sweetest memories with your family. The house has recently been updated with new ceramic wood tile throughout the entirety of the home and new carpet in two of the bedrooms. Vaulted ceilings, arched walkways, walk in closets, large soaker tub, separate vanities, massive backyard, all of the amenities you could possibly desire in a home!

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$978
Property Tax -$547
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
$190

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.

$265,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.74%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$33,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,909

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,6953$1,8004$1,950
$1,950
RENT COMPS ANALYSIS
  • 1512 Rodden Drive Decatur, TX 4
    • 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,884 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.04
    •  
  • 1209 N Bus Hwy 287 Decatur, TX 1
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 1993
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.81
    •  
  • 508 Valleyridge Court Decatur, TX 2
    • 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
    •  
  • 306 Ridge View Court Decatur, TX 3
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2005
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
PROPERTY LISTING DETAILS
Jessica Childers
Trinity Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472933
Last Updated: 11/21/2020
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