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1525 Westview Lane Northlake, TX 76226

3 Beds 2 Baths 2,190 sqft Built 2015

$365,100

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $166.71
  • 3 Days on Market
  • MLS # : 14518993
  • Updated Date : 02/20/2021 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,190 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Stunning 3 bedroom, 2 bathroom plus office home in Canyon Falls! Beautiful wood floors welcome you to the open kitchen and bright living area. Office with French doors is off of the living room. Kitchen boasts large island, granite counters, and SS appliances. Unique study or craft area off the kitchen also has granite counters and storage. Master bedroom features bay window, en suite bath, and oversized walk in closet with laundry access. Great sized secondary bedrooms and gorgeous decorative stamped covered back patio. Close access to 35W, US377, 407, and 1171.

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: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Roanoke Elementary School Primary Regular 731 45 6
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Roanoke Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 45
6
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$328,590$401,610$365,100

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,268
Property Tax -$857
Property Insurance -$154
HOA -$110
Property Management Fees -$99
CASH FLOW
-$37

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.

$365,100

PROJECTED PRICE

$2,450

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$102,502

INVESTMENT

$102,502

Down Payment
$91,275
Rehab Estimate
$5,750
Closing Costs
$5,477

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,275
Loan Amount $273,825
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,657

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,639

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,5004$2,5305$2,700
$2,700
RENT COMPS ANALYSIS
  • 1525 Westview Lane Northlake, TX 2
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.12
    •  
  • 1416 Westview Lane Northlake, TX 1
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2015
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.16
    •  
  • 1104 Parkdale Drive Northlake, TX 3
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2017
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 1408 Wolfberry Lane Northlake, TX 4
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2020
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $1.23
    •  
  • 1509 Tumbleweed Trail Northlake, TX 5
    • 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2019
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.23
    •  
PROPERTY LISTING DETAILS
Michael Tiller
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518993
Last Updated: 02/20/2021
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