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1909 California Drive Dallas, TX 75204

3 Beds 2 Baths 1,201 sqft Built 1999

$370,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $308.08
  • 4 Days on Market
  • MLS # : 14497615
  • Updated Date : 01/14/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,201 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

Great opportunity to own in this amazing location! Located near Downtoan, freeways, etc. Offering 3 beds, 2 baths. Low maintenance home with small yard. Schedule your showing today!...

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: Old East Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $88k398k

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

Neighborhood: Old East Dallas

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
Cesar Chavez Learning Center Primary Regular 676 44 4
Alex W. Spence Talented - Gifted Academy Middle Magnet 914 69 5
North Dallas High School High Regular 1,212 82 2

Cesar Chavez Learning Center

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 44
4
GreatSchools Rating

Alex W. Spence Talented - Gifted Academy

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 69
5
GreatSchools Rating

North Dallas High School

  • Education Level: High
  • # of students: 1,212
  • # of teachers: 82
2
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,285
Property Tax -$877
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
-$598

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.

$370,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$5

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.47

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $1.49

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,7604$2,350
$2,350
RENT COMPS ANALYSIS
  • 1909 California Drive Dallas, TX 3
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.47
    •  
  • 5317 Alton Avenue Dallas, TX 1
    • 3 beds 2 baths ∙ 1,101 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,101 Sqft ∙ Built 1998
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.36
    •  
  • 2013 Lucille Street Dallas, TX 2
    • 3 beds 1 baths ∙ 1,072 Sqft ∙ Built 1993 3 beds 1 baths ∙ 1,072 Sqft ∙ Built 1993
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.45
    •  
  • 1727 N Fitzhugh Avenue Dallas, TX 4
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2006
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.67
    •  
PROPERTY LISTING DETAILS
Bella Alvarado
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497615
Last Updated: 01/14/2021
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