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213 Liberty Lane Venus, TX 76084

5 Beds 3 Baths 2,502 sqft Built 2020

$260,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $104.28
  • 3 Days on Market
  • MLS # : 14481433
  • Updated Date : 12/04/2020 at 17:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,502 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lgi Homes

Listing Agent's Description

The Driftwood is our most spacious plan in the community of Patriot Estates. With 5 bedrooms, 2.5 baths, and an open floor plan, this home has plenty of space for any lifestyle. The master bedroom is located on the main floor and includes a generously sized walk-in closet. The second floor has an impressive open gameroom along with the remaining 4 bedrooms. This home comes fully stocked with thousands of dollars in upgrades including a full suite of stainless-steel kitchen appliances, granite countertops, stunning wood cabinetry, brushed nickel hardware and an attached two-car garage, complete with a Wi-Fi enabled door opener installed.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $101k243k

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9871734

* 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
J.a. Vitovsky Elementary Primary Regular 646 47 4
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.a. Vitovsky Elementary

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 47
4
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
 

$234,810$286,990$260,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$963
Property Tax -$409
Property Insurance -$172
HOA -$31
Property Management Fees -$99
CASH FLOW
$7

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$260,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
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$10k

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$71,139

INVESTMENT

$71,139

Down Payment
$65,225
Rehab Estimate
$2,000
Closing Costs
$3,914

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$963

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,225
Loan Amount $195,675
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$15,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,626

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,680
$1,680
RENT COMPS ANALYSIS
  • 213 Liberty Lane Venus, TX 2
    • 5 beds 3 baths ∙ 2,502 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,502 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.67
    •  
  • 124 Independence Avenue Venus, TX 1
    • 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2007
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.65
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481433
Last Updated: 12/04/2020
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