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1903 Citadel Drive Glenn Heights, TX 75154

3 Beds 2 Baths 1,771 sqft Built 2001

$239,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $135.46
  • 3 Days on Market
  • MLS # : 14517673
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Newland Real Estate, Inc.

Listing Agent's Description

Come one come all investors! Ready to go 3 bed 2 bath rent house with an excellent rental history in a highly desirable area. New flooring and interior paint mixed with a larger fenced back yard and two car garage your can't go wrong!

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: Heritage Heights

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Heritage Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9461734

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$215,910$263,890$239,900

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 -$833
Property Tax -$605
Property Insurance -$130
HOA -$10
Property Management Fees -$99
CASH FLOW
-$97

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.

$239,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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-$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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$3,859

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
  • $0.89

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6953$1,6994$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 1903 Citadel Drive Glenn Heights, TX 1
    • 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,771 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.89
    •  
  • 1903 Purdue Drive Glenn Heights, TX 2
    • 4 beds 3 baths ∙ 1,792 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,792 Sqft ∙ Built 2000
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 1709 Citadel Drive Glenn Heights, TX 3
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 1999
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.90
    •  
  • 1901 Berkeley Drive Glenn Heights, TX 4
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2000
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 236 Stanford Drive Glenn Heights, TX 5
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2000
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jared Sparks
Newland Real Estate, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517673
Last Updated: 03/19/2021
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