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1538 Summers Drive Cedar Hill, TX 75104

3 Beds 2 Baths 1,960 sqft Built 1998

$253,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $129.08
  • 5 Days on Market
  • MLS # : 14506310
  • Updated Date : 01/27/2021 at 23:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,960 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty

Listing Agent's Description

This home is so peaceful and inviting, you won’t want to leave. The living area features beautiful high ceilings that give an open and airy feel, and a gorgeous fire place for those cold winter nights. This kitchen opens to the living area and features backsplash that makes a statement and counter & cabinet space galore. The master bedroom offers a gorgeous bathroom complete and huge walk-in closet. The master bedroom offers a gorgeous bathroom complete and huge walk-in closet. The back yard offers the perfect space to gather and play. Schedule your showing today!

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: Bradford Park at High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Bradford Park at High Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9111740

* 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
High Pointe Elementary School Primary Regular 565 30 3
Bessie Coleman Middle School Middle Regular 588 35 4
Cedar Hill High School High Regular 1,731 105 2

High Pointe Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 30
3
GreatSchools Rating

Bessie Coleman Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 35
4
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$227,700$278,300$253,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$879
Property Tax -$575
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$126

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.

$253,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$72,795

INVESTMENT

$72,795

Down Payment
$63,250
Rehab Estimate
$5,750
Closing Costs
$3,795

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$879

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,250
Loan Amount $189,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$19,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,833

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7753$1,8004$1,8205$1,900
$1,900
RENT COMPS ANALYSIS
  • 1538 Summers Drive Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.93
    •  
  • 9724 White Ash Road Dallas, TX 1
    • 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,889 Sqft ∙ Built 1978
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 227 Breseman Street Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,892 Sqft ∙ Built 2004
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.94
    •  
  • 511 Pinnacle Drive Cedar Hill, TX 3
    • 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2001
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1631 High Pointe Lane Cedar Hill, TX 5
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 1997
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
PROPERTY LISTING DETAILS
Felicia Allen Grace
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506310
Last Updated: 01/27/2021
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