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213 Shadowridge Drive Burleson, TX 76028

3 Beds 2 Baths 2,200 sqft Built 1982

$315,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $143.18
  • 3 Days on Market
  • MLS # : 14481013
  • Updated Date : 12/03/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 2 full
Listing Agent

Davey Goosmann Realty

Listing Agent's Description

Country charm! Heavily wooded, half acre plus lot. Gigantic storage building. and additional smaller building. Spacious rooms. 3rd Bedroom joins bath. Covered patio. Carport for extra car storage. No Survey Available.

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

Neighborhood: Rendon Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $119k276k

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

Neighborhood: Rendon Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800Rent in $11261866

* 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
Donna Shepard Intermediate School Primary Regular 877 53 6
Linda Jobe Middle School Middle Regular 809 53 8
Mansfield Legacy High School High Regular 1,945 103 6

Donna Shepard Intermediate School

  • Education Level: Primary
  • # of students: 877
  • # of teachers: 53
6
GreatSchools Rating

Linda Jobe Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 53
8
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,162
Property Tax -$787
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
-$303

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.

$315,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,881

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$2,000
$2,000
RENT COMPS ANALYSIS
  • 213 Shadowridge Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 4799 E Fm 1187 Burleson, TX 1
    • 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1965
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 4270 Fm Road 1187 Burleson, TX 3
    • 4 beds 3 baths ∙ 2,453 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,453 Sqft ∙ Built 1980
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Dee Davey
Davey Goosmann Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481013
Last Updated: 12/03/2020
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