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202 Cutting Horse Lane Keller, TX 76248

3 Beds 2 Baths 1,624 sqft Built 1991

$210,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $129.31
  • 7 Days on Market
  • MLS # : 14461159
  • Updated Date : 10/29/2020 at 11:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,624 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Don't miss this cute home in Keller! Perfect location close to great Keller ISD schools, Bear Creek Park, Keller Pointe, Keller Sports Complex, and restaurants. Home has laminate flooring throughout, newer HVAC, lifetime warranty on prior foundation repair, Roof recently replaced. Living area has lots of natural light, high ceilings, corner fireplace and flows into the dining room. Kitchen lots of counter space, new double oven range and room for a breakfast table, Master closet is HUGE. Large covered patio out back. Multiple offers received, highest and best due Monday Nov.2 at 10am.

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

Neighborhood: West Bursey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $97k413k

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

Neighborhood: West Bursey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10292706

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$775
Property Tax -$441
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$165

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$800k

PROJECTED ANNUAL CASH FLOW

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

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$27,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,608

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5003$1,5754$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 202 Cutting Horse Lane Keller, TX 4
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 214 Cutting Horse Lane Keller, TX 1
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1986
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.97
    •  
  • 211 Stallion Drive Keller, TX 2
    • 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,485 Sqft ∙ Built 1986
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 2085 Quarter Horse Lane Keller, TX 3
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1991
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.97
    •  
  • 215 Sorrel Trail Keller, TX 5
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 1986
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Elizabeth Deane
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461159
Last Updated: 10/29/2020
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