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1801 High Meadow Street Glenn Heights, TX 75154

5 Beds 4 Baths 3,453 sqft Built 2004

$289,500

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $83.84
  • 5 Days on Market
  • MLS # : 14462618
  • Updated Date : 11/01/2020 at 20:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,453 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

This home is absolutely gorgeous! The living area features rich wood floors, soaring ceilings, and stone fireplace. Perfect space for entertaining or hosting a holiday party. The kitchen is a dream, complete with sleek black appliances, granite counters and tons of cabinet space! Retreat to your oversized master suite after a long day. Master bath features double sinks, linen closet and soaking tub. The spacious secondaries are sure to please. The HUGE back yard could easily fit a pool if you choose. This one won't last long. Make it yours today!

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: Gateway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k248k

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

Neighborhood: Gateway Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9452072

* 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
Woodridge Elementary School Primary Regular 691 41 3
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Woodridge Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 41
3
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$260,550$318,450$289,500

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,068
Property Tax -$704
Property Insurance -$227
HOA -$31
Property Management Fees -$99
CASH FLOW
$231

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.

$289,500

PROJECTED PRICE

$2,360

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.4%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$82,468

INVESTMENT

$82,468

Down Payment
$72,375
Rehab Estimate
$5,750
Closing Costs
$4,343

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,068

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,375
Loan Amount $217,125
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$34,509

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,314

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,360
$2,360
RENT COMPS ANALYSIS
  • 1801 High Meadow Street Glenn Heights, TX 2
    • 5 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,453 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.68
    •  
  • 506 Azalea Drive Glenn Heights, TX 1
    • 4 beds 2 baths ∙ 3,147 Sqft ∙ Built 2008 4 beds 2 baths ∙ 3,147 Sqft ∙ Built 2008
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.67
    •  
PROPERTY LISTING DETAILS
Danielle Claiborne
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462618
Last Updated: 11/01/2020
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