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1716 Palo Alto Drive Mesquite, TX 75150

3 Beds 2 Baths 1,899 sqft Built 1985

$247,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $130.07
  • 4 Days on Market
  • MLS # : 14497070
  • Updated Date : 01/15/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,899 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

MUST SEE WILL NOT LAST LONG! This home has been updated in all the right places. Remodeled bathrooms - master has jetted tub and separate shower; Updated kitchen with replaced cabinets, granite countertops, stainless steel appliances; hardwood floors; ceiling fans; 2-inch blinds, plus much more. Great floor plan with split bedrooms and two living areas. Step outside to your own oasis with areas to entertain. Enjoy the balcony overlooking the back yard.

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

Neighborhood: Los Altos

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Los Altos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Price Elementary School Primary Regular 515 33 3
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Price Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 33
3
GreatSchools Rating

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$222,300$271,700$247,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$858
Property Tax -$599
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$13

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.

$247,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$71,205

INVESTMENT

$71,205

Down Payment
$61,750
Rehab Estimate
$5,750
Closing Costs
$3,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$858

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,750
Loan Amount $185,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$8,550

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,605

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6804$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1716 Palo Alto Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.88
    •  
  • 5436 Village Green Drive Mesquite, TX 1
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1981
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 1628 Stroud Lane Mesquite, TX 2
    • 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 1980
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 5222 Woodmeadow Drive Garland, TX 4
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1978
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 525 Granada Drive Garland, TX 5
    • 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 1975
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
PROPERTY LISTING DETAILS
Russell Underwood
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497070
Last Updated: 01/15/2021
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