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1516 Golden Grove Drive Mesquite, TX 75149

3 Beds 2 Baths 1,578 sqft Built 1983

$210,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $133.08
  • 5 Days on Market
  • MLS # : 14483279
  • Updated Date : 12/10/2020 at 15:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,578 sqft
  • Baths : 2 full
Listing Agent

Realty Firm Global, Pllc

Listing Agent's Description

Received Multi Offers. Please submit by Noon on Saturday. New Roof, New Carpet, New paint outside and inside of this really spacious beautiful home. Front room with floor to ceiling brick fireplace can be a living and dining combo with a extra living or dining off of the kitchen area. Two of the bedrooms are down with one upstairs with a bath and loft area for play, game room or office at home. All information deemed reliable but agent and buyer to verify information.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Pecan Bend

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Pecan Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Rugel Elementary School Primary Regular 476 37 4
Rugel Elementary School Middle Regular 476 37 4
West Mesquite High School High Regular 1,935 129 3

Rugel Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 37
4
GreatSchools Rating

Rugel Elementary School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 37
4
GreatSchools Rating

West Mesquite High School

  • Education Level: High
  • # of students: 1,935
  • # of teachers: 129
3
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$775
Property Tax -$509
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
-$32

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.

$210,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.4%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5503$1,5754$1,6255$1,820
$1,820
RENT COMPS ANALYSIS
  • 1516 Golden Grove Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,578 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.93
    •  
  • 1620 Golden Grove Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1981
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 1400 Golden Grove Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1985
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
  • 1315 Fernwood Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1972
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.96
    •  
  • 1517 Woodlawn Parkway Mesquite, TX 5
    • 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,910 Sqft ∙ Built 1979
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.95
    •  
PROPERTY LISTING DETAILS
Alicia Green
Realty Firm Global, Pllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483279
Last Updated: 12/10/2020
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