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1611 Mcalpin Road Midlothian, TX 76065

3 Beds 3 Baths 3,033 sqft Built 2000

$460,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $151.67
  • 1 Days on Market
  • MLS # : 14465430
  • Updated Date : 11/14/2020 at 18:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,033 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to your slice of paradise on 1.914 acres corner lot featuring a large front & back porch with swings to enjoy the breathtaking country views. The home features a open living room & kitchen that is filled with Natural Light. Built-in cabinets in the living room and vaulted ceilings. The master bathroom features a jetted garden tub, private toilet, double bowl vanity, spacious walk-in closet that leads to a double walled storm shelter closet. This home also offers an oversized loft or game room area upstairs that makes for a perfect guest. Outside workshop with electricity and pasture behind home. Come see this home before it gone! Information is deemed reliable but is not guaranteed.

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: Mission Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Mission Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262473

* 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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,697
Property Tax -$1,004
Property Insurance -$202
Property Management Fees -$99
CASH FLOW
-$512

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.

$460,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,629

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4503$2,4904$2,875
$2,875
RENT COMPS ANALYSIS
  • 1611 Mcalpin Road Midlothian, TX 3
    • 3 beds 3 baths ∙ 3,033 Sqft ∙ Built 2000 3 beds 3 baths ∙ 3,033 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.82
    •  
  • 437 Bentley Drive Midlothian, TX 1
    • 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 450 Bentley Drive Midlothian, TX 2
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 3611 Skinner Road Midlothian, TX 4
    • 4 beds 4 baths ∙ 3,358 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,358 Sqft ∙ Built 2003
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $0.86
    •  
PROPERTY LISTING DETAILS
Stephanie Smith
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465430
Last Updated: 11/14/2020
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