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1918 Sicilia Lane Mclendon Chisholm, TX 75032

4 Beds 4 Baths 2,714 sqft Built 2020

$426,087

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $157.00
  • 6 Days on Market
  • MLS # : 14462594
  • Updated Date : 11/01/2020 at 13:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,714 sqft
  • Baths : 3 full , 1 half
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14462594 - Built by Highland Homes - February completion! ~ Stunning 1 story plan with dramatic arched entry on Corner Lot! 11' ceilings, open concept with stone fireplace. Bay windows in the dining area bathe the room in natural light. Kitchen features designer tile backsplash, gas cooktop and expansive quartz island with pendant lighting. Spacious Lifestyle room. Master suite with bay window large walk-in closet, garden tub with separate shower, dual sinks and great storage.

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: 75032

ZipNIR Market*Market2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k348k

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

Zip Code: 75032

ZipNIR Market*Market2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262288

* 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
Ouida Springer Elementary School Primary Regular 660 43 6
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8

Ouida Springer Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 43
6
GreatSchools Rating

Cain Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 50
7
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$383,478$468,696$426,087

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,572
Property Tax -$767
Property Insurance -$184
HOA -$55
Property Management Fees -$99
CASH FLOW
$123

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$426,087

PROJECTED PRICE

$2,800

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,913

INVESTMENT

$114,913

Down Payment
$106,522
Rehab Estimate
$2,000
Closing Costs
$6,391

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,522
Loan Amount $319,565
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$36,747

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,836

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,8003$2,995
$2,995
RENT COMPS ANALYSIS
  • 1918 Sicilia Lane Mclendon Chisholm, TX 2
    • 4 beds 4 baths ∙ 2,714 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,714 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.03
    •  
  • 1712 Bertino Way Mclendon Chisholm, TX 1
    • 4 beds 4 baths ∙ 2,644 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,644 Sqft ∙ Built 2017
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.93
    •  
  • 1543 Intessa Court Mclendon Chisholm, TX 3
    • 5 beds 4 baths ∙ 2,590 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,590 Sqft ∙ Built 2017
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.16
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462594
Last Updated: 11/01/2020
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