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

1536 Liberty Lane Mesquite, TX 75149

3 Beds 2 Baths 1,311 sqft Built 1987

$219,500

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $167.43
  • 2 Days on Market
  • MLS # : 14490667
  • Updated Date : 12/26/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,311 sqft
  • Baths : 2 full
Listing Agent

Novus Real Estate

Listing Agent's Description

Beautifully updated single story is waiting for you to call it home. Laminate flooring and tile ~ NO CARPET! Showstopper fireplace lends ambiance to the open floor plan. Light, bright kitchen with breakfast bar. Master bath has dual sinks, updated faucets and walk in frameless shower with rain showerhead. Closet has multi level shelving. Secondary bath has soaking tub and medicine cabinet. Near shopping and dining, and easy access to major roads.

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: Hillcrest Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k243k

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

Neighborhood: Hillcrest Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9051734

* 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
Tisinger Elementary School Primary Regular 872 53 4
Wilkinson Middle School Middle Regular 928 64 6
Mesquite High School High Regular 2,851 168 4

Tisinger Elementary School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 53
4
GreatSchools Rating

Wilkinson Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 64
6
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$197,550$241,450$219,500

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 -$810
Property Tax -$532
Property Insurance -$103
Property Management Fees -$99
CASH FLOW
-$104

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.

$219,500

PROJECTED PRICE

$1,440

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.4%
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-$4.0k-$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$63,918

INVESTMENT

$63,918

Down Payment
$54,875
Rehab Estimate
$5,750
Closing Costs
$3,293

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$810

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,875
Loan Amount $164,625
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$3,994

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
  • $1.1

    LIST RENT PER SQFT
  • $1,439

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4404$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 1536 Liberty Lane Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.10
    •  
  • 240 Conger Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1983
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.11
    •  
  • 201 Conger Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1983
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 1521 Liberty Lane Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1992
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.15
    •  
  • 1437 Natchez Trace Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1984
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Hiep Nguyen
Novus Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490667
Last Updated: 12/26/2020
BESbswy