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2012 Sterling Gate Drive Heartland, TX 75126

3 Beds 2 Baths 1,740 sqft Built 2011

$220,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $126.44
  • 4 Days on Market
  • MLS # : 14495073
  • Updated Date : 01/07/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,740 sqft
  • Baths : 2 full
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Lovely home with three bedrooms plus an office in a wonderful neighborhood. The spacious living area opens to the dining area and kitchen with breakfast bar. Master suite featuring master bath with dual vanity, garden tub, and separate shower. Backyard has a patio and wood privacy fence. Community pool, park, jogging path, and much more.

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: 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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$764
Property Tax -$614
Property Insurance -$128
HOA -$39
Property Management Fees -$99
CASH FLOW
-$53

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.

$220,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.72%

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

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$4,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6253$1,6754$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2012 Sterling Gate Drive Heartland, TX 1
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.91
    •  
  • 1510 Warrington Forney, TX 2
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.91
    •  
  • 2029 River Heartland, TX 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2009
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
  • 2016 Karsen Lane Heartland, TX 4
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2012
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 4022 Heavenly Way Heartland, TX 5
    • 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2007
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495073
Last Updated: 01/07/2021
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