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1866 Reynolds Street Lancaster, TX 75134

3 Beds 2 Baths 1,834 sqft Built 2009

$224,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $122.63
  • 3 Days on Market
  • MLS # : 14463797
  • Updated Date : 11/01/2020 at 19:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,834 sqft
  • Baths : 2 full
Listing Agent

Vivo Realty

Listing Agent's Description

This beautiful home located in the Pleasant Run Estates neighborhood has 3 bedrooms and 2 full bathrooms. You'll love the curb appeal as soon as you arrive. You'll even love that this home is located on a corner premium lot! You are welcomed inside with a beautiful entryway. The current formal living area can be utilize as such or can be changed to a formal dining area! This meticulously maintained home has an open floor plan and is completely functional. Lets not forget the beautiful wood flooring and stainless steel appliances! All bedroom furniture is for sale as well as the portable fire place (located in the living room). The storage shed will convey with the sale of the home at no additional expense!

SEE MORE

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: 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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$830
Property Tax -$572
Property Insurance -$133
HOA -$21
Property Management Fees -$99
CASH FLOW
-$75

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.

$224,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.70%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5803$1,5954$1,6495$1,775
$1,775
RENT COMPS ANALYSIS
  • 1866 Reynolds Street Lancaster, TX 2
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.86
    •  
  • 1727 Reynolds Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.89
    •  
  • 1726 Brooks Drive Lancaster, TX 3
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2003
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 2337 Bonnywood Drive Lancaster, TX 4
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 2005
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.91
    •  
  • 1514 Chapman Drive Lancaster, TX 5
    • 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 1996
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
PROPERTY LISTING DETAILS
Dana Johnson
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463797
Last Updated: 11/01/2020
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