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2037 River Brook Heartland, TX 75126

4 Beds 2 Baths 1,755 sqft Built 2013

$230,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $131.05
  • 2 Days on Market
  • MLS # : 14478177
  • Updated Date : 12/12/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,755 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Lovely 4 bedroom, 2 bath home in the community of Heartland. The living area opens to the breakfast area and kitchen with granite counters and stainless appliances. Front bedroom could also be used as a study. This home is conveniently located within walking distance to school. You'll feel like your on vacation with the amenities...indoor event space, splash park, waterslides, pools, fitness facility, lake w pier, hike & bike trails, basketball court & soccer & baseball fields.

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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$849
Property Tax -$536
Property Insurance -$129
HOA -$37
Property Management Fees -$99
CASH FLOW
$1

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.

$230,000

PROJECTED PRICE

$1,650

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$800k

PROJECTED ANNUAL CASH FLOW

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6503$1,6754$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 2037 River Brook Heartland, TX 2
    • 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,755 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 1510 Warrington Forney, TX 1
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002
    property image
    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
    property image
    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
    property image
    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
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kelly Wassermann
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478177
Last Updated: 12/12/2020
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