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1713 Springwood Drive Mesquite, TX 75181

3 Beds 2 Baths 2,660 sqft Built 1990

$249,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $93.61
  • 1 Days on Market
  • MLS # : 14488587
  • Updated Date : 12/19/2020 at 23:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,660 sqft
  • Baths : 2 full
Listing Agent

Alicia Trevino International

Listing Agent's Description

Beautifully well taken care of home in sought after Creek Crossing! Beautifully updated with 3 oversized bedrooms, an Eat-in kitchen with granite countertops perfect for entertaining, 2 living areas with a see-through fireplace. Also features laminate hardwood flooring throughout, a huge secondary bedroom that could be turned into a 4th bedroom by simply adding a wall. Updated bathrooms and good size master bedroom that opens to the sunroom. Wonderful backyard with wood privacy fence and more. This one won't last long. Come and See!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Pirrung Elementary School Primary Regular 473 30 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Pirrung Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 30
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$919
Property Tax -$604
Property Insurance -$181
Property Management Fees -$99
CASH FLOW
-$103

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$249,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,239

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7004$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 1713 Springwood Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 2,660 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,660 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 1716 Trinity Hill Mesquite, TX 1
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1991
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 3012 Walnut Ridge Lane Mesquite, TX 2
    • 3 beds 3 baths ∙ 2,559 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,559 Sqft ∙ Built 2006
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
  • 2716 Ash Creek Mesquite, TX 4
    • 4 beds 3 baths ∙ 2,561 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,561 Sqft ∙ Built 1996
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 2421 Rimrock Trail Mesquite, TX 5
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2001
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
PROPERTY LISTING DETAILS
Alicia Trevino
Alicia Trevino International
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488587
Last Updated: 12/19/2020
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