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19040 Platte River Way Dallas, TX 75287

3 Beds 2 Baths 1,356 sqft Built 1983

$290,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $213.86
  • 4 Days on Market
  • MLS # : 14519237
  • Updated Date : 02/27/2021 at 19:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

Mersal Realty

Listing Agent's Description

Corner Lot Open floorplan 3 bedrooms and 2 bathrooms Home. Large dining area with brick fire place and spacious living room in the back. Updated kitchen w-island, granite countertops, stainless steel appliances, Laminate and title flooring , Large sized back yard with 2 carport space with entry from the back of the house . Conveniently located within minutes of George Bush & Dallas North Tollroads.

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Sheffield Elementary School Primary Regular NA
Dan F. Long Middle School Middle Regular 718 51 4
Newman Smith High School High Regular 1,973 126 6

Sheffield Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Dan F. Long Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 51
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,007
Property Tax -$573
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$95

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.

$290,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6903$1,6954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 19040 Platte River Way Dallas, TX 2
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.25
    •  
  • 2027 Lorient Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1982
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
  • 2743 Stevens Point Lane Dallas, TX 3
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1983
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.26
    •  
  • 18911 Platte River Way Dallas, TX 4
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1983
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.28
    •  
  • 2120 Stein Way Carrollton, TX 5
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1983
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.21
    •  
PROPERTY LISTING DETAILS
Katty Urdaneta
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519237
Last Updated: 02/27/2021
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