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2131 Fair Weather Drive Lancaster, TX 75146

4 Beds 2 Baths 2,052 sqft Built 2015

$244,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $119.35
  • 1 Days on Market
  • MLS # : 14466345
  • Updated Date : 11/14/2020 at 19:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,052 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bear Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Bear Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Lancaster Elementary School Primary Regular 585 33 7
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Lancaster Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 33
7
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$904
Property Tax -$650
Property Insurance -$146
HOA -$33
Property Management Fees -$99
CASH FLOW
-$32

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.

$244,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,903

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7754$1,8005$1,995
$1,995
RENT COMPS ANALYSIS
  • 2131 Fair Weather Drive Lancaster, TX 4
    • 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,052 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1873 Eagle River Trail Lancaster, TX 1
    • 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 2006
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 1774 Pioneer Way Lancaster, TX 2
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2015 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 2015
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 1455 Carsen Way Lancaster, TX 3
    • 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2014
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.92
    •  
  • 1652 Ambercrest Drive Lancaster, TX 5
    • 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,980 Sqft ∙ Built 2016
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.01
    •  
PROPERTY LISTING DETAILS
Delisa Rose
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466345
Last Updated: 11/14/2020
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