Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1531 Rebecca Lane Lancaster, TX 75134

3 Beds 2 Baths 1,470 sqft Built 1997

$202,500

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $137.76
  • 3 Days on Market
  • MLS # : 14521175
  • Updated Date : 02/27/2021 at 01:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Associates

Listing Agent's Description

Lovely three bedroom, two baths, two car rear entry garage. Living room with wood burning fireplace. Spacious open dining and kitchen arrangement. Kitchen has lots of drawer storage, pantry storage and adequate counter space to prepare those large family meals. Kitchen opens to dining area. New luxury plank vinyl floors and new carpet. Exterior recently painted and some recent interior paint. Semi split bedrooms. Master bath has double vanity, separate tub and shower and walk-in closet. Covered patio overlooks fenced back yard that will be great for outdoor parties, cook-outs or a place for the kids to play. MULTIPLE OFFERS RECEIVED.

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: Pleasant Manor Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k243k

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

Neighborhood: Pleasant Manor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8701734

* 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
Belt Line Elementary School Primary Regular 572 35 4
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Belt Line Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 35
4
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$182,250$222,750$202,500

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$703
Property Tax -$515
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
$10

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.

$202,500

PROJECTED PRICE

$1,440

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
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-$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$59,413

INVESTMENT

$59,413

Down Payment
$50,625
Rehab Estimate
$5,750
Closing Costs
$3,038

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$703

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,625
Loan Amount $151,875
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,171

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4253$1,4404$1,4995$1,595
$1,595
RENT COMPS ANALYSIS
  • 1531 Rebecca Lane Lancaster, TX 3
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.98
    •  
  • 1225 Oakbluff Drive Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,335 Sqft ∙ Built 1978
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.97
    •  
  • 1145 Alicia Lane Lancaster, TX 2
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1997
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.03
    •  
  • 1114 Alicia Lane Lancaster, TX 4
    • 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,571 Sqft ∙ Built 1998
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.95
    •  
  • 874 W Wintergreen Road Lancaster, TX 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2003
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Gwendolyn Allen
Re/max Preferred Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521175
Last Updated: 02/27/2021
BESbswy