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2106 Spring Meadow Trail Heath, TX 75032

4 Beds 4 Baths 3,283 sqft Built 2001

$539,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $164.18
  • 5 Days on Market
  • MLS # : 14525753
  • Updated Date : 03/03/2021 at 17:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,283 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bishop Country Realty

Listing Agent's Description

Own your own piece of paradise in the beautiful Buffalo Creek golf community. This gorgeous one story home is graced with incredible details throughout from the beautiful wood cabinetry of the kitchen to the outstanding epoxy garage floor. Custom floorplan provides lots of space including study with french doors, elegant formals and cozy den space with wood floors. Kitchen complete with stainless appliances, granite counters and butlers pantry into the dining room. Master suite has wood flooring, large bath with oversized walk-in closet and sitting area. Large landscaped back yard, covered patio and so much more. Be sure to check out the oversized garage with attached garage space for golf cart parking.

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: Buffalo Creek

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Buffalo Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263597

* 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
Cain Middle School Middle Regular 941 50 7
Rockwall-heath High School High Regular 2,200 119 8
Cain Middle School Middle Unknown NA

Cain Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 50
7
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating

Cain Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$485,100$592,900$539,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$1,872
Property Tax -$965
Property Insurance -$217
HOA -$55
Property Management Fees -$99
CASH FLOW
-$98

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.

$539,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 3.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,872

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$17,001

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $3,127

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$3,1103$3,3004$3,4955$3,500
$3,500
RENT COMPS ANALYSIS
  • 2106 Spring Meadow Trail Heath, TX 2
    • 4 beds 4 baths ∙ 3,283 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,283 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $0.95
    •  
  • 818 Hunters Glen Rockwall, TX 1
    • 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,013 Sqft ∙ Built 2000
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.78
    •  
  • 4 Tennis Village Drive Heath, TX 3
    • 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,409 Sqft ∙ Built 2001
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.97
    •  
  • 2213 Kings Pass Heath, TX 4
    • 4 beds 3 baths ∙ 3,390 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,390 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.03
    •  
  • 728 Windsong Lane Rockwall, TX 5
    • 4 beds 4 baths ∙ 3,407 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,407 Sqft ∙ Built 2003
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Marissa Bishop
Bishop Country Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525753
Last Updated: 03/03/2021
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