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1807 Apollo Lane Lancaster, TX 75134

5 Beds 4 Baths 3,202 sqft Built 2005

$325,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $101.50
  • 1 Days on Market
  • MLS # : 14532468
  • Updated Date : 03/13/2021 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,202 sqft
  • Baths : 3 full , 1 half
Listing Agent

Solvent Realty Group

Listing Agent's Description

Completely updated and move in ready 5 bedroom home with game room, study, two car garage and more. New fence. Fresh interior paint. New flooring. Updated kitchen with new appliances! Master bedroom is downstairs. Private office off of the entry way. 4 bedrooms and 2 full bathrooms upstairs. Tons of room to grow! A must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Pleasant Run Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Pleasant Run Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Rosa Parks-millbrook Elementary Primary Regular 559 31 6
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Rosa Parks-millbrook Elementary

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 31
6
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,129
Property Tax -$827
Property Insurance -$212
HOA -$31
Property Management Fees -$99
CASH FLOW
-$228

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.

$325,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,161

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0703$2,275
$2,275
RENT COMPS ANALYSIS
  • 1807 Apollo Lane Lancaster, TX 2
    • 5 beds 4 baths ∙ 3,202 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,202 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.65
    •  
  • 1009 Blackberry Trail Lancaster, TX 1
    • 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 2005
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.59
    •  
  • 834 Smokey Oak Street Lancaster, TX 3
    • 5 beds 4 baths ∙ 3,010 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,010 Sqft ∙ Built 2006
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.76
    •  
PROPERTY LISTING DETAILS
Robert Blackman
Solvent Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532468
Last Updated: 03/13/2021
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