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1537 Westborough Drive Northlake, TX 76226

3 Beds 2 Baths 1,796 sqft Built 2016

$350,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $194.88
  • 4 Days on Market
  • MLS # : 14496100
  • Updated Date : 02/04/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,796 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

DESIGNED TO PLEASE - SERENE BACKYARD RETREAT! First-Time Buyers to Empty-Nesters will appreciate the attention to detail in this ONE-STORY, 3 BED, 2 BATH home. Great Room - Open Kitchen design features a large granite island, cafe dining, hand-scraped HARDWOODS, plus a Family Planning Center. RARE 2+ GARAGE offers extra STORAGE-WORKSPACE ZONE! Enjoy a spacious owner's suite and spa-like ensuite with oversized luxury rain shower-laundry access thru owners walk-in closet. Walk to community pool & playground! Extensive list of features & upgrades!! Schedule Your Tour Today! HOA includes front yard maintenance.,FIOS internet & tv. Amenities - fitness center, dog park, hike bike trails

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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,216
Property Tax -$696
Property Insurance -$131
HOA -$207
Property Management Fees -$99
CASH FLOW
-$189

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.

$350,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $2,187

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,160
1$2,1602$2,3003$2,3004$2,5005$2,530
$2,530
RENT COMPS ANALYSIS
  • 1537 Westborough Drive Northlake, TX 1
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.20
    •  
  • 1416 Westview Lane Northlake, TX 2
    • 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
    •  
  • 4208 Mistflower Way Northlake, TX 3
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2020
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.28
    •  
  • 1122 Berrydale Drive Northlake, TX 4
    • 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,081 Sqft ∙ Built 2016
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.20
    •  
  • 1408 Wolfberry Lane Northlake, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Sandy Bolinger
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496100
Last Updated: 02/04/2021
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