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1636 Veneto Drive Mclendon Chisholm, TX 75032

3 Beds 2 Baths 1,801 sqft Built 2016

$308,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $171.02
  • 3 Days on Market
  • MLS # : 14509071
  • Updated Date : 01/29/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,801 sqft
  • Baths : 2 full
Listing Agent

My Castle Realty

Listing Agent's Description

Cozy and immaculate! 3 bedroom 2 bathroom energy efficient home located in sought-after Sonoma Verde Subdivision. This charming home has a spacious layout with an open floor concept for the kitchen and living room. The kitchen features a new Maytag dishwasher, travertine backsplash, granite countertops, large island, and bar space. Formal dining room, beautiful stone fireplace and luxury vinyl wood flooring in living room, formal dining and hallway makes for a sleek look. His and her walk-in closets, large shower in master bath and marble counter tops in both bathrooms. Sonoma Verde is in Rockwall ISD and the community amenities include large pool, tennis courts, sand volleyball, and basketball court.

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: 75032

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k348k

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

Zip Code: 75032

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262288

* 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
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8
Cain Middle School Middle Unknown NA

Cain Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 50
7
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating

Cain Middle School

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

$277,200$338,800$308,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,070
Property Tax -$555
Property Insurance -$131
HOA -$55
Property Management Fees -$99
CASH FLOW
$370

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.

$308,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.74%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,370

INVESTMENT

$87,370

Down Payment
$77,000
Rehab Estimate
$5,750
Closing Costs
$4,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,000
Loan Amount $231,000
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$48,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $2,206

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2803$2,600
$2,600
RENT COMPS ANALYSIS
  • 1636 Veneto Drive Mclendon Chisholm, TX 2
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $1.27
    •  
  • 1706 Bertino Way Mclendon Chisholm, TX 1
    • 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,960 Sqft ∙ Built 2017
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
  • 1783 Amalfi Mclendon Chisholm, TX 3
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2019
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.38
    •  
PROPERTY LISTING DETAILS
Gary Bisha
My Castle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509071
Last Updated: 01/29/2021
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