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1620 Whitley Road Keller, TX 76248

3 Beds 2 Baths 2,476 sqft Built 1982

$475,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $191.84
  • 6 Days on Market
  • MLS # : 14471309
  • Updated Date : 11/24/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,476 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Wonderfully maintained single-story home in Keller ISD! This property has 3 bedrooms, 2 bathrooms, a separate office, and 2 living areas with fresh paint throughout. The kitchen boasts handmade maple cabinets, granite, SS appliances, touch under counter lighting, and a double oven. Trane HVAC unit and garage door opener were replaced approx. 2 years ago. Spacious master with 2 walk-in closets, a Jacuzzi tub, and double sinks. Recently updated hall bath, hand-scraped wood floors, screened-in back porch, multiple covered patios, an oversized garage with a spacious attached storage room, parking for a boat or RV and a hand finished solid mahogany front door. Bring your clients to tour this fabulous property 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

Zip Code: 76248

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76248

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262728

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,753
Property Tax -$997
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
-$988

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.

$475,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$45

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,216

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0303$2,2504$2,3855$2,395
$2,395
RENT COMPS ANALYSIS
  • 1620 Whitley Road Keller, TX 2
    • 3 beds 2 baths ∙ 2,476 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,476 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.82
    •  
  • 406 Alta Ridge Drive Keller, TX 1
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 1998
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 1701 Chatham Lane Keller, TX 3
    • 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2002
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
  • 637 Cottonwood Trail Keller, TX 4
    • 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,385
    • $0.93
    •  
  • 620 Shady Bridge Lane Keller, TX 5
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jaklyn Mckenna
Jp & Associates Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471309
Last Updated: 11/24/2020
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