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2137 Ash Grove Way Dallas, TX 75228

4 Beds 3 Baths 2,746 sqft Built 2001

INVESTimate

$498,500

List Price

$2,880

$2,630 - $3,130

Rent Est.

$564,402  ( +13.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $181.54
  • 7 Days on Market
  • MLS # : 14416237
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,746 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Peaceful and private in Forest Hills! This 4 bedroom, 3 bath move-in ready home has been beautifully updated. You'll swoon over the contemporary chef's kitchen complete with LG appliances, a large kitchen island and wine fridge. The large downstairs master features a large closet and a private patio overlooking the sprawling backyard. Upstairs, you'll find two additional bedrooms along with a game room. One of the largest lots in a private gated community close to White Rock Lake, the Arboretum, Casa Linda Plaza and more!

SEE MORE

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: Enclave at Ash Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Enclave at Ash Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472535

* 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
Alex Sanger Elementary School Primary Regular 535 35 8
W.h. Gaston Middle School Middle Regular 1,086 70 4
Bryan Adams High School High Regular 1,939 118 4

Alex Sanger Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 35
8
GreatSchools Rating

W.h. Gaston Middle School

  • Education Level: Middle
  • # of students: 1,086
  • # of teachers: 70
4
GreatSchools Rating

Bryan Adams High School

  • Education Level: High
  • # of students: 1,939
  • # of teachers: 118
4
GreatSchools Rating
 

$448,650$548,350$498,500

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,839
Property Tax -$1,182
Property Insurance -$186
HOA -$98
Property Management Fees -$99
CASH FLOW
-$524

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.

$498,500

PROJECTED PRICE

$2,880

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 13.22%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,853

INVESTMENT

$137,853

Down Payment
$124,625
Rehab Estimate
$5,750
Closing Costs
$7,478

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,839

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,625
Loan Amount $373,875
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $3,206

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,8803$3,1004$3,1005$3,600
$3,600
RENT COMPS ANALYSIS
  • 2137 Ash Grove Way Dallas, TX 2
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.05
    •  
  • 7050 Belteau Lane Dallas, TX 1
    • 3 beds 2 baths ∙ 2,460 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,460 Sqft ∙ Built 2011
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
  • 8119 Barbaree Boulevard Dallas, TX 3
    • 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.23
    •  
  • 2224 Forest Hollow Park Dallas, TX 4
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.16
    •  
  • 7920 Briar Brook Court Dallas, TX 5
    • 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1998
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.28
    •  
PROPERTY LISTING DETAILS
Lauren Snyder
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416237
Last Updated: 08/21/2020
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