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1635 Frederick Street Lancaster, TX 75134

4 Beds 3 Baths 2,170 sqft Built 2020

$319,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $147.00
  • 5 Days on Market
  • MLS # : 14463838
  • Updated Date : 11/25/2020 at 15:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,170 sqft
  • Baths : 2 full , 1 half
Listing Agent

Next Level Realty

Listing Agent's Description

COMING SOON! This beautiful new build on an OVERSIZED LOT is a must see whether you like to entertain outdoors or have kids this will be perfect for your family. The home boasts 4 bedrooms 2 and a half baths and two living areas. The home will have quartz counter tops, laminate flooring in the kitchen and bathrooms while comfortable carpeting will be in the bedrooms. As a bonus there is a decorative electric fireplace along with decorative lighting throughout.

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: Will-Kee

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k243k

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

Neighborhood: Will-Kee

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8351734

* 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
Houston Elementary School Primary Regular 681 37 5
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Houston Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 37
5
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
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,177
Property Tax -$812
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
-$520

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$319,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.54%

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) 3.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,535

INVESTMENT

$86,535

Down Payment
$79,750
Rehab Estimate
$2,000
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,5953$1,6504$1,6955$1,720
$1,720
RENT COMPS ANALYSIS
  • 1635 Frederick Street Lancaster, TX 5
    • 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,170 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.79
    •  
  • 2338 Manchester Lane Lancaster, TX 1
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2003
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.77
    •  
  • 1905 Chapman Drive Lancaster, TX 2
    • 4 beds 2 baths ∙ 2,154 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,154 Sqft ∙ Built 2007
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 1813 Chapman Drive Lancaster, TX 3
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 2206 Midbury Drive Lancaster, TX 4
    • 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,140 Sqft ∙ Built 2005
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.79
    •  
PROPERTY LISTING DETAILS
Cecilia Williams
Next Level Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463838
Last Updated: 11/25/2020
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