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

2112 Meridian Way Richardson, TX 75080

3 Beds 3 Baths 2,262 sqft Built 2013

$439,900

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $194.47
  • 2 Days on Market
  • MLS # : 14527511
  • Updated Date : 03/06/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tong-parsons Realty

Listing Agent's Description

Location! Location! Location! This 2262 square foot single family home has 3 bedrooms and 2.5 bathrooms. This home is located at 2112 Meridian Way, Richardson. Exclusive gated community with great schools! Private walking park inside the community. Well maintained, and over.

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262548

* 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
Richardson North Junior High School Middle Regular 649 43 7
Pearce High School High Regular 2,253 144 6
Richardson North Junior High School Middle Unknown NA

Richardson North Junior High School

  • Education Level: Middle
  • # of students: 649
  • # of teachers: 43
7
GreatSchools Rating

Pearce High School

  • Education Level: High
  • # of students: 2,253
  • # of teachers: 144
6
GreatSchools Rating

Richardson North Junior High School

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

$395,910$483,890$439,900

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$1,528
Property Tax -$1,027
Property Insurance -$158
HOA -$150
Property Management Fees -$99
CASH FLOW
-$142

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.

$439,900

PROJECTED PRICE

$2,820

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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-$5.0k$0.0$5.0k$10k

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$122,324

INVESTMENT

$122,324

Down Payment
$109,975
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,310

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $3,003

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8203$2,9004$3,0005$3,195
$3,195
RENT COMPS ANALYSIS
  • 2112 Meridian Way Richardson, TX 2
    • 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,262 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $1.25
    •  
  • 1225 Naples Drive Richardson, TX 1
    • 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,083 Sqft ∙ Built 2013
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.30
    •  
  • 17541 Sequoia Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,311 Sqft ∙ Built 2018
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.25
    •  
  • 17284 Yellow Bells Drive Dallas, TX 4
    • 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2019
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.37
    •  
  • 8038 Mary Curran Court Dallas, TX 5
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 2018
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.39
    •  
PROPERTY LISTING DETAILS
Yuemei You
Tong-parsons Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527511
Last Updated: 03/06/2021
BESbswy