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1917 Mary Ann Lane Burleson, TX 76028

4 Beds 2 Baths 2,185 sqft Built 2005

INVESTimate

$269,900

List Price

$2,090

$1,881 - $2,299

Rent Est.

$289,981  ( +7.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $123.52
  • 4 Days on Market
  • MLS # : 14419214
  • Updated Date : 08/22/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,185 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 4 Bedroom Brick Home Features a Wonderful Open Concept! Large Family Living Area with Cozy Wood Burning Fireplace! Breakfast Bar! Spacious Kitchen with Lots of Counterspace! Stainless Steel Appliances! Gorgeous Tile Wood Floors! 5.25 inch BaseBoards! Crown Molding! Chair Molding in Dining Area! Decorative Lighting! Split Bedroom Concept! Oversized Master Bedroom with Cozy Sitting Area! Large Garden Tub & Separate Shower in Master! New 5 Ton Trane AC! Large Backyard! Sprinkler System! St Augustine Lawn! Mature Trees! Dont Miss Out on Seeing This One!

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

Zip Code: 76028

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Zip Code: 76028

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
William Stribling Elementary School Primary Regular 413 25 6
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

William Stribling Elementary School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 25
6
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$996
Property Tax -$647
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
$195

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.

$269,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.44%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$32,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,032

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8993$2,090
$2,090
RENT COMPS ANALYSIS
  • 1917 Mary Ann Lane Burleson, TX 3
    • 4 beds 2 baths ∙ 2,185 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,185 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.96
    •  
  • 1033 Oak Valley Road Burleson, TX 1
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1992
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 909 Evandale Road Burleson, TX 2
    • 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 1997
    property image
    LEASED 05/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.93
    •  
PROPERTY LISTING DETAILS
Bridgett Smith
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419214
Last Updated: 08/22/2020
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