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1844 Stevens Bluff Lane Dallas, TX 75208

3 Beds 4 Baths 2,000 sqft Built 2017

$465,000

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $232.50
  • 3 Days on Market
  • MLS # : 14481030
  • Updated Date : 12/05/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,000 sqft
  • Baths : 3 full , 1 half
Listing Agent

True Wave Real Estate, Llc

Listing Agent's Description

David Weekly home in sought-after High Grove at West Kessler. Engineered hardwoods, designer lighting, high ceilings, plantation shutters, & lots of natural light make this space warm and inviting. Spacious kitchen has lots of storage, oversized island, gas cooktop, stainless steel GE appliances, & is great for entertaining. Open concept living room features custom cabinetry for additional storage. Each bedroom has an ensuite bath & Master features two walk-in closets & a luxurious shower. Neighborhood has manicured streets, two private parks, is walking distance to renowned Stevens Park Golf Course and Twelve Hills Nature Preserve, a mile from top-tier dining in Bishop Arts, and easily accessible to downtown.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: North Oak Cliff

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $88k349k

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

Neighborhood: North Oak Cliff

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7311826

* 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
Rosemont Elementary And International Language Preparatory Middle School Primary Regular 475 29 6
W.e. Greiner Exploratory Arts Academy Middle Magnet 1,542 98 8
Sunset High School High Regular 2,078 123 4

Rosemont Elementary And International Language Preparatory Middle School

  • Education Level: Primary
  • # of students: 475
  • # of teachers: 29
6
GreatSchools Rating

W.e. Greiner Exploratory Arts Academy

  • Education Level: Middle
  • # of students: 1,542
  • # of teachers: 98
8
GreatSchools Rating

Sunset High School

  • Education Level: High
  • # of students: 2,078
  • # of teachers: 123
4
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$1,716
Property Tax -$1,103
Property Insurance -$137
HOA -$65
Property Management Fees -$99
CASH FLOW
-$330

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.

$465,000

PROJECTED PRICE

$2,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 15.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $2,810

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7903$2,7954$3,0005$3,250
$3,250
RENT COMPS ANALYSIS
  • 1844 Stevens Bluff Lane Dallas, TX 2
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $1.47
    •  
  • 841 N Van Buren Avenue Dallas, TX 1
    • 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2014
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.46
    •  
  • 619 Buckalew Street Dallas, TX 3
    • 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,880 Sqft ∙ Built 2017
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.49
    •  
  • 933 W 8th Street Dallas, TX 4
    • 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,020 Sqft ∙ Built 2018
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.49
    •  
  • 1970 Kessler Heights Lane Dallas, TX 5
    • 3 beds 4 baths ∙ 2,204 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,204 Sqft ∙ Built 2017
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.47
    •  
PROPERTY LISTING DETAILS
Tricia Seevers
True Wave Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481030
Last Updated: 12/05/2020
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