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1817 Quail Lane Northlake, TX 76226

4 Beds 2 Baths 2,204 sqft Built 2017

$325,000

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $147.46
  • 4 Days on Market
  • MLS # : 14472654
  • Updated Date : 11/19/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,204 sqft
  • Baths : 2 full
Listing Agent

All City Real Estate, Ltd. Co

Listing Agent's Description

Perfect in every way. From beautiful landscaping, covered porch and patio, you'll immediately fall in love with this gorgeous single story gem. The spacious floor plan boasts a huge island kitchen overlooking a large living room accented with cast stone mantel and hearth fireplace. Natural light spills in throughout the home, which features a split bedroom plan with large private Master Suite retreat and bathroom. Secondary bedrooms are good sized and any can be used as a home office or second living room is desired. Additional features include a Mudroom and huge storage closet attached to it. Finishes include granite counter tops, tile floors, designer paints and more. Energy efficient too. Welcome home!

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

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

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,199
Property Tax -$763
Property Insurance -$155
HOA -$83
Property Management Fees -$99
CASH FLOW
$131

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

$2,430

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$4.0k-$2.0k$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$900k

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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$27,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,452

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3403$2,3504$2,4305$2,500
$2,500
RENT COMPS ANALYSIS
  • 1817 Quail Lane Northlake, TX 4
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $1.10
    •  
  • 1720 Mcgee Avenue Northlake, TX 1
    • 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,031 Sqft ∙ Built 2015
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 1800 Kaiser Cove Northlake, TX 2
    • 4 beds 3 baths ∙ 2,157 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,157 Sqft ∙ Built 2015
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.08
    •  
  • 2013 Kaiser Cove Northlake, TX 3
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2015
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.12
    •  
  • 1816 Kaiser Cove Argyle, TX 5
    • 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,106 Sqft ∙ Built 2015
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.19
    •  
PROPERTY LISTING DETAILS
Greg Yeater
All City Real Estate, Ltd. Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472654
Last Updated: 11/19/2020
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