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1604 Birchmont Lane Keller, TX 76248

4 Beds 4 Baths 3,161 sqft Built 1994

$440,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $139.20
  • 4 Days on Market
  • MLS # : 14495915
  • Updated Date : 01/08/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,161 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bancroft Realty, Llc

Listing Agent's Description

Welcome to Heatherwood Estates. Here you will find a great layout in this spacious 2 story home with ample space for family gatherings and entertaining. Come fall in love with its 2 story entry, granite counter tops and cozy fireplace. This 4 bedroom and 3.5 bath beauty contains a master suite downstairs and the other remaining bedrooms on the upper level. This oversized lot also contains a 2 car garage with extra storage space! Backyard play area will stay.

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: Heatherwood Estates Keller

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Heatherwood Estates Keller

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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
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
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$1,528
Property Tax -$923
Property Insurance -$210
HOA -$21
Property Management Fees -$99
CASH FLOW
$89

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.

$440,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$25,715

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,956

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,8703$2,9004$2,9505$2,995
$2,995
RENT COMPS ANALYSIS
  • 1604 Birchmont Lane Keller, TX 2
    • 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,161 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $0.91
    •  
  • 1612 Highland Oaks Drive Keller, TX 1
    • 5 beds 4 baths ∙ 3,281 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,281 Sqft ∙ Built 1998
    property image
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.84
    •  
  • 732 Saint Andrews Lane Keller, TX 3
    • 5 beds 3 baths ∙ 3,047 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,047 Sqft ∙ Built 1997
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
  • 1924 Overlook Ridge Drive Keller, TX 4
    • 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1996
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.98
    •  
  • 2112 Serene Court Keller, TX 5
    • 4 beds 4 baths ∙ 3,092 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,092 Sqft ∙ Built 2010
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.97
    •  
PROPERTY LISTING DETAILS
Nelly Lopez
Bancroft Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495915
Last Updated: 01/08/2021
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