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1520 Evans Drive Mesquite, TX 75149

3 Beds 2 Baths 1,494 sqft Built 2001

$212,900

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $142.50
  • 3 Days on Market
  • MLS # : 14477811
  • Updated Date : 11/27/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,494 sqft
  • Baths : 2 full
Listing Agent

Vivo Realty

Listing Agent's Description

Check out this fantastic home in mesquite built in 2001 with recently updated interior. You don't want to miss this 3 bedroom 2 bath 2 car garage home. This house has a spacious living room with vaulted ceilings fireplace and a nice size kitchen with plenty of cabinets and granite counter top space. Master bedroom is large and also has vaulted ceilings. Master bath has dual sinks and a shower that was recently remodeled. The back yard is great it has a covered patio and a fenced in back yard. Water heater was Replaced in the spring of 2020.

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: Northridge Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $63k243k

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

Neighborhood: Northridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7921734

* 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
Hanby Elementary School Primary Regular 998 62 5
Wilkinson Middle School Middle Regular 928 64 6
Mesquite High School High Regular 2,851 168 4

Hanby Elementary School

  • Education Level: Primary
  • # of students: 998
  • # of teachers: 62
5
GreatSchools Rating

Wilkinson Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 64
6
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$191,610$234,190$212,900

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 -$786
Property Tax -$516
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$64

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.

$212,900

PROJECTED PRICE

$1,450

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.7%
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$62,169

INVESTMENT

$62,169

Down Payment
$53,225
Rehab Estimate
$5,750
Closing Costs
$3,194

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$786

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,225
Loan Amount $159,675
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$5,880

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
  • $0.97

    LIST RENT PER SQFT
  • $1,472

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4003$1,4504$1,4505$1,525
$1,525
RENT COMPS ANALYSIS
  • 1520 Evans Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 1707 Hancock Drive Mesquite, TX 1
    • 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,393 Sqft ∙ Built 1984
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.00
    •  
  • 1108 Irene Drive Mesquite, TX 2
    • 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,525 Sqft ∙ Built 1992
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 1437 Natchez Trace Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1984
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 1011 Chappell Drive Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 1986
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.02
    •  
PROPERTY LISTING DETAILS
Priscilla Rojas
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477811
Last Updated: 11/27/2020
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