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1825 Panola Drive Mesquite, TX 75150

4 Beds 2 Baths 1,713 sqft Built 1982

$249,500

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $145.65
  • 5 Days on Market
  • MLS # : 14461678
  • Updated Date : 11/02/2020 at 20:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

Must See!! Cozy Remodeled Home Fresh paint throughout the house, ceramic floors, and new carpet. The family room has a fireplace and an open floor plan for your dining room. The kitchen has stainless steel appliances, granite countertops, and an under-mount stainless steel sink with a view of an oasis pool backyard and a covered porch. Master Bedroom has a walk-in closet and remodeled bathroom. Foundation warranty and an engineer report Great location minutes away from I30, I80, and I635. Town East Retail and dining district within blocks. FHA beginning November 11, 2020

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Country Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Country Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701734

* 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
Kimball Elementary School Primary Regular 303 21 7
Kimball Elementary School Middle Regular 303 21 7
Poteet High School High Regular 1,743 113 6

Kimball Elementary School

  • Education Level: Primary
  • # of students: 303
  • # of teachers: 21
7
GreatSchools Rating

Kimball Elementary School

  • Education Level: Middle
  • # of students: 303
  • # of teachers: 21
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$224,550$274,450$249,500

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$921
Property Tax -$605
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$161

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.

$249,500

PROJECTED PRICE

$1,590

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$921

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,807

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,6254$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 1825 Panola Drive Mesquite, TX 1
    • 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.93
    •  
  • 1923 Robert Jones Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1982
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 1820 Culberson Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1982
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.05
    •  
  • 4013 Coryell Way Mesquite, TX 4
    • 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 1983
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 1706 Uvalde Street Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1983
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
PROPERTY LISTING DETAILS
Sylvia Zurita
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461678
Last Updated: 11/02/2020
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