Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1700 Sparrow Street Northlake, TX 76226

3 Beds 2 Baths 2,031 sqft Built 2016

$321,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $158.05
  • 6 Days on Market
  • MLS # : 14472444
  • Updated Date : 11/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,031 sqft
  • Baths : 2 full
Listing Agent

Your Home Free Llc

Listing Agent's Description

Gorgeous single-story on large corner lot! Inside you will find 3 beds, 2 full baths, and 2-car garage! Open layout makes entertaining a breeze! Upgrades & amenities include designer paint tones, plush carpeting, beautiful wood-look ceramic tiling, built-in surround sound, decorative lighting fixtures, cozy wood burning family room fireplace, convenient office nook, and MORE! Gourmet kitchen boasts granite countertops with tumbled stone & glass tile backsplash, under-cabinet lighting, large center island with breakfast bar and pendant lighting, SS appliances, and gas range. Private master suite offers dual sinks, garden tub with separate shower, and large walk-in closet. Huge backyard with covered patio area!

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$288,900$353,100$321,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,184
Property Tax -$753
Property Insurance -$145
HOA -$92
Property Management Fees -$99
CASH FLOW
-$113

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.

$321,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

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$90,815

INVESTMENT

$90,815

Down Payment
$80,250
Rehab Estimate
$5,750
Closing Costs
$4,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,184

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,250
Loan Amount $240,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,300

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1603$2,2954$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1700 Sparrow Street Northlake, TX 2
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.06
    •  
  • 1720 Cole Lane Northlake, TX 1
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.15
    •  
  • 109 Cole Court Northlake, TX 3
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 1716 Sparrow Street Northlake, TX 4
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 1820 Lark Lane Argyle, TX 5
    • 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
PROPERTY LISTING DETAILS
William T. Nelson
Your Home Free Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472444
Last Updated: 11/22/2020
BESbswy