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2023 River Brook Heartland, TX 75126

3 Beds 2 Baths 2,185 sqft Built 2009

$239,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $109.38
  • 1 Days on Market
  • MLS # : 14509883
  • Updated Date : 01/31/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,185 sqft
  • Baths : 2 full
Listing Agent

Dfw Home

Listing Agent's Description

A lot of update. New floor and carpet. New Stove. Beautiful 3-2-2 with wonderful curb appeal in Heartland Community. Very spacious floor plan with kitchen open to family room. 3 Bedrooms plus Study. Huge Gameroom up. Large master suite with dual sinks, separate tub and shower. Eat in kitchen with breakfast bar. Oversized backyard with open patio!

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: 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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$830
Property Tax -$548
Property Insurance -$153
HOA -$34
Property Management Fees -$99
CASH FLOW
$376

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.

$239,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.85%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$43,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,890

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8353$1,9254$1,9505$2,040
$2,040
RENT COMPS ANALYSIS
  • 2023 River Brook Heartland, TX 5
    • 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.93
    •  
  • 4017 Eric Drive Heartland, TX 1
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 2012
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 2009 Robincreek Cove Heartland, TX 2
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2006
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.87
    •  
  • 3015 Cassinia Parkway Heartland, TX 3
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.89
    •  
  • 4006 Rolling Rock Road Heartland, TX 4
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2006
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ling Kong
Dfw Home
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509883
Last Updated: 01/31/2021
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