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2013 Kati Jane Lane Midlothian, TX 76065

3 Beds 2 Baths 2,205 sqft Built 2020

$377,990

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $171.42
  • 7 Days on Market
  • MLS # : 14514999
  • Updated Date : 02/08/2021 at 14:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,205 sqft
  • Baths : 2 full
Listing Agent

Knob & Key Realty Partners Llc

Listing Agent's Description

NEW JOHN HOUSTON CUSTOM HOME IN WICKLIFFE MANOR IN MIDLOTHIAN ISD. Sparkling new home with windows, a covered back patio, open concept kitchen and a study off the master bedroom. Gas fireplace and cooktop, painted kitchen cabinets, framed bathroom mirrors, engineered wood floors and crown molding throughout all presentation areas, and stainless steel appliances built into the cabinetry. Refinements throughout this beautiful home. READY IN MAY.

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: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
T.e. Baxter Elementary School Primary Regular 611 41 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

T.e. Baxter Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 41
6
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$340,191$415,789$377,990

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,313
Property Tax -$825
Property Insurance -$155
HOA -$100
Property Management Fees -$99
CASH FLOW
-$521

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.

$377,990

PROJECTED PRICE

$1,970

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

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

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$102,167

INVESTMENT

$102,167

Down Payment
$94,498
Rehab Estimate
$2,000
Closing Costs
$5,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,313

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,498
Loan Amount $283,493
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,012

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,970
1$1,9702$2,0953$2,0964$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2013 Kati Jane Lane Midlothian, TX 1
    • 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,205 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.89
    •  
  • 702 Elk Horn Drive Midlothian, TX 2
    • 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,422 Sqft ∙ Built 2005
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.86
    •  
  • 2209 Goose Down Court Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 2004
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,096
    • $0.90
    •  
  • 1518 Melanie Trail Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2010
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 4413 Dandelion Lane Midlothian, TX 5
    • 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,524 Sqft ∙ Built 2020
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Alan Simonton
Knob & Key Realty Partners Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514999
Last Updated: 02/08/2021
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