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1521 Bay Valley Circle Heath, TX 75032

3 Beds 3 Baths 3,135 sqft Built 1993

$480,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $153.11
  • 5 Days on Market
  • MLS # : 14466063
  • Updated Date : 11/11/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,135 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Stunning home in Mariah Bay on oversized lot w-pool+lake views! TONS of recent updates:both a-c+heating units-WiFi controls, Bosch dishwasher, garage doors-WiFi openers, water heaters, sprinkler timer-WiFi enabled, pool heater, carpet, tile, master bath counters, paint + more! Expansive master suite w-fireplace, balcony, HUGE master bath w-separate closets, large shower, jetted tub + small frig! Oversized kitchen opens to family room and offers beautiful white cabinets, double ovens & window seat w-storage. Family room w-beautiful built-ins + a see-thru fireplace. Guest suite on 1st floor, master & secondary bedroom on second floor. Staircase from oversized 3 car garage (w-2 storage areas) up to first floor.

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
 

$432,000$528,000$480,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,771
Property Tax -$859
Property Insurance -$208
Property Management Fees -$99
CASH FLOW
-$397

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.

$480,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.53%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,594

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5003$2,5404$2,7005$2,900
$2,900
RENT COMPS ANALYSIS
  • 1521 Bay Valley Circle Heath, TX 3
    • 3 beds 3 baths ∙ 3,135 Sqft ∙ Built 1993 3 beds 3 baths ∙ 3,135 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.81
    •  
  • 312 Harbor Landing Drive Rockwall, TX 1
    • 4 beds 4 baths ∙ 3,177 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,177 Sqft ∙ Built 1997
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.74
    •  
  • 306 Victory Lane Rockwall, TX 2
    • 4 beds 4 baths ∙ 3,047 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,047 Sqft ∙ Built 2004
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 225 Sovereign Court Rockwall, TX 4
    • 4 beds 3 baths ∙ 3,414 Sqft ∙ Built 1979 4 beds 3 baths ∙ 3,414 Sqft ∙ Built 1979
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.79
    •  
  • 201 Rainbow Circle Rockwall, TX 5
    • 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 1980 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 1980
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.96
    •  
PROPERTY LISTING DETAILS
Dell Osborn
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466063
Last Updated: 11/11/2020
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