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1801 Willow Creek Mesquite, TX 75181

3 Beds 2 Baths 2,121 sqft Built 1996

$234,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $110.75
  • 1 Days on Market
  • MLS # : 14466588
  • Updated Date : 11/08/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,121 sqft
  • Baths : 2 full
Listing Agent

Premier Legacy Real Estate Llc

Listing Agent's Description

Beautiful home located in the highly desired Creek Crossing subdivision in Mesquite. 3 bedrooms, 2 Baths with office that could be 4th Bedroom. Large Master Bedroom. Home has new Carpet, tile, Granite Countertops and Island. Freshly painted throughout, Large Farm sink and awesome backsplash in kitchen. Wb Fireplace with gas starter. Enlarged patio in back. Great area with Award-Winning Schools!! Hurry won't last long!

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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: 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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$867
Property Tax -$570
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
$235

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.

$234,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.82%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$35,008

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,935

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9203$1,9254$2,0455$2,095
$2,095
RENT COMPS ANALYSIS
  • 1801 Willow Creek Mesquite, TX 2
    • 3 beds 2 baths ∙ 2,121 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,121 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.91
    •  
  • 2520 Walnut Creek Drive Mesquite, TX 1
    • 4 beds 2 baths ∙ 1,942 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,942 Sqft ∙ Built 1997
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 2617 Brushy Creek Trail Mesquite, TX 3
    • 3 beds 2 baths ∙ 2,107 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,107 Sqft ∙ Built 1987
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.91
    •  
  • 2241 Cross Timber Drive Mesquite, TX 4
    • 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 1987
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.92
    •  
  • 2404 Parkchase Circle Mesquite, TX 5
    • 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1994
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.92
    •  
PROPERTY LISTING DETAILS
Michael Dunham
Premier Legacy Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466588
Last Updated: 11/08/2020
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