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1535 Lakeview Drive Keller, TX 76248

4 Beds 4 Baths 3,657 sqft Built 1995

$469,000

List Price

$3,200

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $128.25
  • 3 Days on Market
  • MLS # : 14465322
  • Updated Date : 11/06/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,657 sqft
  • Baths : 3 full , 1 half
Listing Agent

Universal Realty. Inc

Listing Agent's Description

CHARMING HOME sought after Lakes of Highland Oaks and Keller ISD. Features 4 bedrooms, 3.1 baths, 3 car garage, 3 living areas and study offers glass French doors, crown molding throughout. Stunning entry to brand new iron wrought staircase. Kitchen is open to breakfast and family room with beautiful fireplace. Each lower kitchen cabinet has slide outs. Upstairs: Master bedroom, 3 additional bedrooms, living area, Jack and Jill bathroom, another full bath and utility room. Spacious closet and storage throughout. Private backyard with large covered deck, over look beautiful landscape with waterfall. Replaced 6 foot cedar fence and roof in 2017. MUST SEE IN PERSON!

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: The Lakes of Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: The Lakes of Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Shady Grove Elementary School Primary Regular 458 32 8
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Shady Grove Elementary School

  • Education Level: Primary
  • # of students: 458
  • # of teachers: 32
8
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$422,100$515,900$469,000

PURCHASE PRICE

$2,880$3,520$3,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,200
EXPENSES Loan Payment -$1,730
Property Tax -$984
Property Insurance -$239
Property Management Fees -$99
CASH FLOW
$148

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.

$469,000

PROJECTED PRICE

$3,200

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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$130,035

INVESTMENT

$130,035

Down Payment
$117,250
Rehab Estimate
$5,750
Closing Costs
$7,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,730

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,250
Loan Amount $351,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$39,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,200

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,337

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0003$3,1904$3,2005$3,200
$3,200
RENT COMPS ANALYSIS
  • 1535 Lakeview Drive Keller, TX 5
    • 4 beds 4 baths ∙ 3,657 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,657 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.88
    •  
  • 1316 Ashmore Drive Keller, TX 1
    • 4 beds 4 baths ∙ 3,362 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,362 Sqft ∙ Built 2002
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.89
    •  
  • 8105 Seville Drive North Richland Hills, TX 2
    • 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.88
    •  
  • 1545 Briar Meadow Drive Keller, TX 3
    • 4 beds 4 baths ∙ 3,317 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,317 Sqft ∙ Built 1998
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $0.96
    •  
  • 1416 Briar Meadow Drive Keller, TX 4
    • 5 beds 3 baths ∙ 3,483 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,483 Sqft ∙ Built 1996
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Sopida Puwakul
Universal Realty. Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465322
Last Updated: 11/06/2020
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