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1609 Wesley Mesquite, TX 75149

4 Beds 3 Baths 2,198 sqft Built 1990

$235,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $106.92
  • 2 Days on Market
  • MLS # : 14507772
  • Updated Date : 02/06/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,198 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Charming corner lot waiting for you! Enjoy the beautiful deck with family and friends. Spacious yard for outdoor fun. Convenient location to shopping and major highway. Recent updates to flooring downstairs and one bedroom upstairs. Tile added to upstairs bath, few windows in the process of being replaced, updated kitchen backsplash, recently added a double oven stove. Kitchen open to breakfast and main living. Waste not time, make an appointment and make this home yours today.

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: Spring Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Spring Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
Frasier Middle School Middle Unknown NA
West Mesquite High School High Regular 1,935 129 3
West Mesquite High School High Unknown NA

Frasier Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

West Mesquite High School

  • Education Level: High
  • # of students: 1,935
  • # of teachers: 129
3
GreatSchools Rating

West Mesquite High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$816
Property Tax -$570
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
$91

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.

$235,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.74%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$15,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6503$1,6504$1,7005$1,730
$1,730
RENT COMPS ANALYSIS
  • 1609 Wesley Mesquite, TX 5
    • 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.79
    •  
  • 2022 Nectar Drive Mesquite, TX 1
    • 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,849 Sqft ∙ Built 1985
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 708 Carver Street Mesquite, TX 2
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 1994
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 1301 Maple Ridge Drive Mesquite, TX 3
    • 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,890 Sqft ∙ Built 2000
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 2019 Timberview Drive Mesquite, TX 4
    • 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,071 Sqft ∙ Built 1986
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
PROPERTY LISTING DETAILS
Gregory Lomax
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507772
Last Updated: 02/06/2021
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