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1530 Abrams Road Dallas, TX 75214

3 Beds 3 Baths 2,429 sqft Built 1981

$570,000

List Price

$2,990

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $234.66
  • 5 Days on Market
  • MLS # : 14475459
  • Updated Date : 11/27/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,429 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Urban Living Realty

Listing Agent's Description

Junius Heights-Lakewood charmer! Beautifully renovated home to meet today's lifestyle. Spacious open concept in Dallas with modern amenities. Great for entertaining. This two story home has a reverse master with guest quarters on the first level. All stainless steel appliances. Tile, carpet and wood flooring are all new. Completely remodeled kitchen and bathrooms have custom cabinets and counters . Freshly landscaped low maintenance yard. Perfect home for the lock it and leave it lifestyle. Two HVAC systems zoned.

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: Junius Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $102k427k

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

Neighborhood: Junius Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9472170

* 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
William Lipscomb Elementary School Primary Regular 509 32 6
J.l. Long Middle School Middle Regular 1,299 83 5
Woodrow Wilson High School High Regular 1,697 100 5

William Lipscomb Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 32
6
GreatSchools Rating

J.l. Long Middle School

  • Education Level: Middle
  • # of students: 1,299
  • # of teachers: 83
5
GreatSchools Rating

Woodrow Wilson High School

  • Education Level: High
  • # of students: 1,697
  • # of teachers: 100
5
GreatSchools Rating
 

$513,000$627,000$570,000

PURCHASE PRICE

$2,691$3,289$2,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,990
EXPENSES Loan Payment -$2,103
Property Tax -$1,351
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
-$731

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$570,000

PROJECTED PRICE

$2,990

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,990

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $3,449

    COMP ESTIMATED VALUE
  • $1.42

    COMP AVG. RENT PER SQFT
Comps Range
$2,990
1$2,9902$3,1953$3,2004$3,950
$3,950
RENT COMPS ANALYSIS
  • 1530 Abrams Road Dallas, TX 1
    • 3 beds 3 baths ∙ 2,429 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,429 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,990
    • $1.23
    •  
  • 5844 Oram Street Dallas, TX 2
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1998
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.50
    •  
  • 5722 La Vista Drive Dallas, TX 3
    • 3 beds 4 baths ∙ 2,551 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,551 Sqft ∙ Built 1999
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.25
    •  
  • 6322 Vanderbilt Avenue Dallas, TX 4
    • 3 beds 3 baths ∙ 2,619 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,619 Sqft ∙ Built 1996
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.51
    •  
PROPERTY LISTING DETAILS
Victoria Thompson
Texas Urban Living Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475459
Last Updated: 11/27/2020
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