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17930 Mary Margaret Street Dallas, TX 75287

3 Beds 2 Baths 1,952 sqft Built 1998

$300,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $153.69
  • 6 Days on Market
  • MLS # : 14464913
  • Updated Date : 11/12/2020 at 08:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,952 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Dallas one-story home offers a two-car garage. This home is vacant and cleaned regularly. This home has been virtually staged to illustrate its potential! Thanks for viewing!

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: Frankford Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $102k376k

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

Neighborhood: Frankford Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9472157

* 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
Sheffield Elementary School Primary Regular NA
Dan F. Long Middle School Middle Regular 718 51 4
Newman Smith High School High Regular 1,973 126 6

Sheffield Elementary School

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

Dan F. Long Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 51
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,107
Property Tax -$593
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
-$69

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.

$300,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.2%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,543

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8703$1,8954$1,9305$2,095
$2,095
RENT COMPS ANALYSIS
  • 17930 Mary Margaret Street Dallas, TX 2
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.96
    •  
  • 18540 Shadow Ridge Drive Dallas, TX 1
    • 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,992 Sqft ∙ Built 1992
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.93
    •  
  • 2607 Seedling Lane Dallas, TX 3
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 3043 Renaissance Court Dallas, TX 4
    • 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.02
    •  
  • 2808 Liberation Court Dallas, TX 5
    • 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,930 Sqft ∙ Built 1995
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.09
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464913
Last Updated: 11/12/2020
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