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1715 Caman Park Drive Lucas, TX 75002

4 Beds 3 Baths 4,154 sqft Built 2014

$725,000

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $174.53
  • 4 Days on Market
  • MLS # : 14505496
  • Updated Date : 01/28/2021 at 10:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,154 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Absolutely stunning single story executive home situated on 1 acre lot. This lovely home features a gorgeous gourmet open kitchen opens to living area with stone fireplace and features custom cabinets, double ovens, gas cooktop, huge island and breakfast bar plus ample counter and cabinet space. Lovely formal dining for entertaining. Dedicated private office to work from home. Wonderful master with sitting area plus large secondary bedrooms and 3 full baths. Great media room Enjoy the extensive covered back patio with outdoor fireplace. Oversized 3 car garage that is 27ft long for all your toys.

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: 75002

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Zip Code: 75002

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262213

* 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
Hunt Elementary School Primary Regular 731 46 10
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Hunt Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 46
10
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$652,500$797,500$725,000

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$2,518
Property Tax -$1,286
Property Insurance -$267
HOA -$63
Property Management Fees -$99
CASH FLOW
-$732

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.

$725,000

PROJECTED PRICE

$3,500

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,053

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,590
1$2,5902$3,3003$3,500
$3,500
RENT COMPS ANALYSIS
  • 1715 Caman Park Drive Lucas, TX 3
    • 4 beds 3 baths ∙ 4,154 Sqft ∙ Built 2014 4 beds 3 baths ∙ 4,154 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.84
    •  
  • 1702 Redbay Drive Wylie, TX 1
    • 5 beds 4 baths ∙ 3,808 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,808 Sqft ∙ Built 2003
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.68
    •  
  • 1607 Genevieve Drive Wylie, TX 2
    • 5 beds 4 baths ∙ 4,194 Sqft ∙ Built 2012 5 beds 4 baths ∙ 4,194 Sqft ∙ Built 2012
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.79
    •  
PROPERTY LISTING DETAILS
Lisa Henry-weaver
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505496
Last Updated: 01/28/2021
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