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1563 Kensington Place Lancaster, TX 75134

4 Beds 2 Baths 2,057 sqft Built 2003

$204,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $99.17
  • 8 Days on Market
  • MLS # : 14479020
  • Updated Date : 12/29/2020 at 15:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,057 sqft
  • Baths : 2 full
Listing Agent

Mersal Realty

Listing Agent's Description

We currently have multiple offers in place. OPEN HOUSE SHOWING, SAT., Jan. 2 from 12-5pm. Located in a beautiful, quiet, established neighborhood. This lovely, single-story home features 4 bedrooms, 2 baths with a 2 car-rear garage entry just awaiting your growing family. 2 living room areas and formal dining. Vaulted ceilings and wood burning fire place. An open floor plan with lots of cabinet space in the kitchen with island and breakfast bar. Separate utility room with washer and dryer connections. The master bathroom has double vanity, garden tub and walk-in closet. This home has a backyard patio for quiet enjoyable evenings. Call today this home won’t last long!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Wintergreen-Wellington Park North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Wintergreen-Wellington Park North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Rosa Parks-millbrook Elementary Primary Regular 559 31 6
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Rosa Parks-millbrook Elementary

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 31
6
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
 

$183,600$224,400$204,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$753
Property Tax -$519
Property Insurance -$146
HOA -$4
Property Management Fees -$99
CASH FLOW
$159

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.

$204,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.82%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

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$59,810

INVESTMENT

$59,810

Down Payment
$51,000
Rehab Estimate
$5,750
Closing Costs
$3,060

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,000
Loan Amount $153,000
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$23,807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5993$1,6504$1,6805$1,695
$1,695
RENT COMPS ANALYSIS
  • 1563 Kensington Place Lancaster, TX 4
    • 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.82
    •  
  • 1557 Warwick Drive Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 2002
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.79
    •  
  • 1445 Bumble Bee Drive Lancaster, TX 2
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2002
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.83
    •  
  • 1813 Chapman Drive Lancaster, TX 3
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 2206 Midbury Drive Lancaster, TX 5
    • 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
PROPERTY LISTING DETAILS
Lisa Fisher
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479020
Last Updated: 12/29/2020
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