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1514 Meadow Glen Street Richardson, TX 75081

3 Beds 3 Baths 2,217 sqft Built 1980

$375,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $169.15
  • 2 Days on Market
  • MLS # : 14481073
  • Updated Date : 12/05/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,217 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors Plano

Listing Agent's Description

Beautifully & creatively updated home inside & out!White painted brick, fresh landscaping & new shutters welcome you home to this corner lot that sides Owens Trails!Rich Hnd scraped hardwd floors throughout along w top of the line upgraded tiles! Fml Dining Rm w elegant lighting is open to fabulous kitchen with island custom pantry ,quartz counters & updated appliances. Brk area offers 2 more pantries & Built-in coffee bar. Fam Rm has been accented w beamed ceilings Modern FP,beams, & a wood plank paneled wall. Mst ste boasts FP w gas logs, Updated bath with enlarged WI shower, free standing tub & new sep vanities. All baths remodeled!GmRm w wetbar in back is great for play room, craft room or media area.

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: Richardson Racquet Club Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Richardson Racquet Club Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10652171

* 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
Yale Elementary School Primary Regular 428 29 8
Yale Elementary School Middle Regular 428 29 8
Berkner High School High Regular 2,494 174 4

Yale Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 29
8
GreatSchools Rating

Yale Elementary School

  • Education Level: Middle
  • # of students: 428
  • # of teachers: 29
8
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,384
Property Tax -$876
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
-$533

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.

$375,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.5%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$31

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,023

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9804$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 1514 Meadow Glen Street Richardson, TX 3
    • 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,217 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.89
    •  
  • 1602 Versailles Drive Richardson, TX 1
    • 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,102 Sqft ∙ Built 1977
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 1604 Stacey Court Richardson, TX 2
    • 3 beds 3 baths ∙ 2,315 Sqft ∙ Built 1971 3 beds 3 baths ∙ 2,315 Sqft ∙ Built 1971
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 1511 N Yale Boulevard Richardson, TX 4
    • 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 1972
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.91
    •  
  • 1607 Richforest Drive Richardson, TX 5
    • 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,054 Sqft ∙ Built 1975
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
PROPERTY LISTING DETAILS
Karen Mackanos Long
Ebby Halliday, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481073
Last Updated: 12/05/2020
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