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1523 Alberi Drive Euless, TX 76039

3 Beds 2 Baths 2,340 sqft Built 1995

$369,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $157.69
  • 2 Days on Market
  • MLS # : 14505428
  • Updated Date : 01/23/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,340 sqft
  • Baths : 2 full
Listing Agent

Lake Kiowa Premiere Real Estate

Listing Agent's Description

Beautiful custom home in Forest Pointe Estates, immaculately cared for by original owners. Peaceful gated community located near conveniences of restaurants, shopping, travel. Homeowners have access to clubhouse & pool. Open layout kitchen-living areas w custom built ins & efficient gas log fireplace for warmth on a cold winter's day. Gourmet kitchen offers both gas & electric stove & ovens, walk in pantry & tons of storage. Upstairs gamerm w wetbar & fridge. Working intercom, custom central vac, & all Whirlpool appliances are just a few great amenities of this home. Updated in 2014 with Lennox HVAC w 10 year extended warranty, new Anderson windows & new kitchen appliances. Extra 3rd garage for shop or storage.

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: Forest Pointe Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Forest Pointe Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9932171

* 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
Lakewood Elementary School Primary Regular 713 39 6
Euless Junior High School Middle Regular 1,024 57 8
Euless Junior High School High Regular 1,024 57 8

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 39
6
GreatSchools Rating

Euless Junior High School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating

Euless Junior High School

  • Education Level: High
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,282
Property Tax -$716
Property Insurance -$162
HOA -$135
Property Management Fees -$99
CASH FLOW
-$325

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.

$369,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$942

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,124

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0703$2,1004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 1523 Alberi Drive Euless, TX 2
    • 3 beds 2 baths ∙ 2,340 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,340 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.88
    •  
  • 501 Wild Oak Lane Euless, TX 1
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 1982
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 415 Fountain Park Drive Euless, TX 3
    • 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 2003
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 1909 Chittam Drive Euless, TX 4
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 2004
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 106 Wildbriar Street Euless, TX 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1985
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Michael Pulec
Lake Kiowa Premiere Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505428
Last Updated: 01/23/2021
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