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1520 Bay Valley Circle Heath, TX 75032

3 Beds 3 Baths 2,546 sqft Built 1986

$380,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $149.25
  • 2 Days on Market
  • MLS # : 14500622
  • Updated Date : 01/16/2021 at 13:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Beautiful single story home in Mariah Bay! This 3 bed, 2.1 bath home + sunroom is spacious yet cozy. You will love the large family room with hardwood floors and brick fireplace. The kitchen offers plenty of counter space and lovely granite and overlooks the formal dining and breakfast room. Spacious master retreat with fireplace. The climate controlled sunroom offers more space to relax or would make a perfect workout room! Oversized garage is air-conditioned & heated. Outside you have a gated courtyard, and in back, a pergola and large yard! Great opportunity to live in Heath! Enjoy Lake Ray Hubbard & the fantastic restaurants and shops nearby, or hop on I30 for a quick commute! Schedule your showing today.

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: Mariah Bay

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k538k

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

Neighborhood: Mariah Bay

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,320
Property Tax -$680
Property Insurance -$174
Property Management Fees -$99
CASH FLOW
$337

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.

$380,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$48,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,622

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4503$2,5004$2,5005$2,610
$2,610
RENT COMPS ANALYSIS
  • 1520 Bay Valley Circle Heath, TX 5
    • 3 beds 3 baths ∙ 2,546 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,546 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.03
    •  
  • 121 Sceptre Drive Rockwall, TX 1
    • 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 1983
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 6 Intrepid Rockwall, TX 2
    • 4 beds 4 baths ∙ 2,760 Sqft ∙ Built 1983 4 beds 4 baths ∙ 2,760 Sqft ∙ Built 1983
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.89
    •  
  • 5518 Australia Court Rockwall, TX 3
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1994
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.10
    •  
  • 1207 Valley Trail Heath, TX 4
    • 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 1996
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.13
    •  
PROPERTY LISTING DETAILS
Paula Alexander
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500622
Last Updated: 01/16/2021
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