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209 Heatherstone Drive Midlothian, TX 76065

4 Beds 3 Baths 3,045 sqft Built 2015

$375,000

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $123.15
  • 4 Days on Market
  • MLS # : 14510220
  • Updated Date : 02/05/2021 at 08:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,045 sqft
  • Baths : 3 full
Listing Agent

Wright Group Real Estate

Listing Agent's Description

Beautiful Lillian built home situated in Lawson Farms Estates community. Pride of ownership throughout in this 4 bed, 3 bath home. Home features open concept design with bonus room upstairs, spacious home office, back patio extension with pergola perfect for entertainment & enjoyment of all family members. Home boasts a 25 foot driveway extension that easily can accommodate additional parking, boat or RV. Wood fencing features double gate for maximum flexibility of access. This wonderful community offers access to private pool & park for its residents as well as ample outdoor activities as the community is located near walking trails, fishing pond & at the nearly completed Midlothian Community Park.

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

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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,303
Property Tax -$818
Property Insurance -$203
HOA -$33
Property Management Fees -$99
CASH FLOW
$94

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.

$375,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.68%

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) 8.00%
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$0.0$5.0k$10k$15k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$22,605

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,786

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4503$2,5004$2,5505$2,795
$2,795
RENT COMPS ANALYSIS
  • 209 Heatherstone Drive Midlothian, TX 4
    • 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.84
    •  
  • 437 Bentley Drive Midlothian, TX 1
    • 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 450 Bentley Drive Midlothian, TX 2
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 5213 Leander Way Midlothian, TX 3
    • 3 beds 2 baths ∙ 2,695 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,695 Sqft ∙ Built 2007
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 226 Lawson Farms Drive Midlothian, TX 5
    • 5 beds 4 baths ∙ 2,829 Sqft ∙ Built 2008 5 beds 4 baths ∙ 2,829 Sqft ∙ Built 2008
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.99
    •  
PROPERTY LISTING DETAILS
Amy Wright
Wright Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510220
Last Updated: 02/05/2021
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