Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2056 Silverado Drive Mesquite, TX 75181

5 Beds 3 Baths 3,190 sqft Built 2002

$287,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $89.97
  • 3 Days on Market
  • MLS # : 14498492
  • Updated Date : 01/21/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,190 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hip Realty Group

Listing Agent's Description

Welcome to this amazing home! Wide open floor plan is great for entertaining. Eat-in kitchen opens to large living room with a beautiful fire place and lots of windows. Home also features formal living room, dinning room and game room. Lots of space to spread out. The pantry laundry combo offers incredible amounts of storage. And don't miss this spacious owners suite! This will be our own private get away. 4 additional bedrooms make this house a stand out in the area. Beautiful backyard features a large patio, fruit trees and storage shed. Roof replaced in 2020 and new gutters also. Don't miss this opportunity.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Pecan Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Pecan Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9701953

* 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
Thompson Elementary School Primary Regular 569 34 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Thompson Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 34
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$258,300$315,700$287,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$997
Property Tax -$696
Property Insurance -$212
HOA -$13
Property Management Fees -$99
CASH FLOW
$483

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.

$287,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,805

INVESTMENT

$81,805

Down Payment
$71,750
Rehab Estimate
$5,750
Closing Costs
$4,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,750
Loan Amount $215,250
See What Happens When You Reinvest Cash Flow

12.25

YEARS SAVED

$54,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,669

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,245
1$2,2452$2,5003$2,5004$2,900
$2,900
RENT COMPS ANALYSIS
  • 2056 Silverado Drive Mesquite, TX 3
    • 5 beds 3 baths ∙ 3,190 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,190 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.78
    •  
  • 4613 Monarch Drive Mesquite, TX 1
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2003
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.77
    •  
  • 1808 Willow Creek Mesquite, TX 2
    • 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 1994
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 2108 Silver Leaf Drive Mesquite, TX 4
    • 5 beds 3 baths ∙ 3,236 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,236 Sqft ∙ Built 2000
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jammi Finlayson
Hip Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498492
Last Updated: 01/21/2021
BESbswy