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1519 Rebecca Lane Lancaster, TX 75134

3 Beds 2 Baths 1,485 sqft Built 2003

$200,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $134.68
  • 3 Days on Market
  • MLS # : 14504535
  • Updated Date : 01/22/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Seeto Realty

Listing Agent's Description

3 bed 2 bath perfect for the first time buyer. New exterior paint, new carpets.

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

Neighborhood: Pleasant Manor Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k243k

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

Neighborhood: Pleasant Manor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8701734

* 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
Belt Line Elementary School Primary Regular 572 35 4
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Belt Line Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 35
4
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$695
Property Tax -$509
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$34

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.

$200,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$9,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,452

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,4994$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 1519 Rebecca Lane Lancaster, TX 2
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 1145 Alicia Lane Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1997
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.03
    •  
  • 1114 Alicia Lane Lancaster, TX 3
    • 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1998
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.95
    •  
  • 1105 Meadow Creek Drive Lancaster, TX 4
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1986
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 874 W Wintergreen Road Lancaster, TX 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2003
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Michael Seeto
Seeto Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504535
Last Updated: 01/22/2021
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