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2007 Stonewood Court Heartland, TX 75126

3 Beds 2 Baths 1,520 sqft Built 2015

$225,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $148.03
  • 4 Days on Market
  • MLS # : 14516402
  • Updated Date : 02/19/2021 at 10:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Callahan Realty Group

Listing Agent's Description

Charming one story home with custom stone was previously DR Hortons model for the Heartland Community. Enjoy spectacular views of the lake from your front porch, or cozy up in front of the unique limestone fireplace. Open floor plan with high ceilings, beautiful kitchen island, new paint, large laundry room with pantry and shelves, and french doors leading to the patio. Oversized backyard has additional fenced area for playground, dog run, or garden. Garage has built-in workbench and shelves. Fridge, washer and dryer can stay. This family friendly community includes walking & biking trails, 2 clubhouses, 2 pools, gyms, playgrounds, docks, a lake, fishing, and much more. All just steps from your front door!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Heartland

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Heartland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800Rent in $11261873

* 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
Barbara Walker Elementary School Primary Regular 585 33 4
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Barbara Walker Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 33
4
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$782
Property Tax -$628
Property Insurance -$115
HOA -$33
Property Management Fees -$99
CASH FLOW
-$166

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.

$225,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.7%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$961

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,5254$1,5995$1,650
$1,650
RENT COMPS ANALYSIS
  • 2007 Stonewood Court Heartland, TX 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.98
    •  
  • 2007 Stonewood Heartland, TX 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 2009 Woodhurst Trail Heartland, TX 3
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2006
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.95
    •  
  • 2036 Times Road Heartland, TX 4
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2007
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.98
    •  
  • 2009 Kings Forest Drive Heartland, TX 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 2007
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Matthew Hudson
Callahan Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516402
Last Updated: 02/19/2021
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