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1917 13th Street Northlake, TX 76226

4 Beds 3 Baths 2,059 sqft Built 2018

$365,000

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $177.27
  • 3 Days on Market
  • MLS # : 14496431
  • Updated Date : 01/09/2021 at 15:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,059 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

WHY WAIT? NEWER is better than new. This HIGHLAND HOMES, Amberley floorpan has a 2.5 garage, updated ceiling fans, brushed gold hardware, and blinds, ready for easy move in. Better than new, walking distance to the elementary school, in the MOST desirable neighborhood of Harvest, where the cutest coffee, shop, outdoor entertaining, community pool, neighborhood organic garden are just a few of the features awaiting. This master panned community has a lifestyle manager to offer activities for every stage of life. Walk to your dream home with award winning energy efficiencies to keep your cost low. One of the most desirable floor plans this home is perfect for entertaining or anyone at every stage. DON'T WAIT!

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,268
Property Tax -$856
Property Insurance -$146
HOA -$92
Property Management Fees -$99
CASH FLOW
-$171

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.

$365,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$4,530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,249

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,2904$2,3405$2,495
$2,495
RENT COMPS ANALYSIS
  • 1917 13th Street Northlake, TX 3
    • 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,059 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.11
    •  
  • 1712 Henderson Drive Northlake, TX 1
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2016
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 1324 E Swan Trail Argyle, TX 2
    • 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,112 Sqft ∙ Built 2017
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
  • 1800 Kaiser Cove Northlake, TX 4
    • 4 beds 3 baths ∙ 2,157 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,157 Sqft ∙ Built 2015
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $1.08
    •  
  • 1412 Canary Lane Argyle, TX 5
    • 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 2018
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.14
    •  
PROPERTY LISTING DETAILS
Bonnie Billingsley
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496431
Last Updated: 01/09/2021
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