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2141 Trishia Lane Glenn Heights, TX 75154

3 Beds 2 Baths 1,388 sqft Built 1986

INVESTimate

$199,900

List Price

$1,490

$1,341 - $1,639

Rent Est.

$218,071  ( +9.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $144.02
  • 2 Days on Market
  • MLS # : 14419655
  • Updated Date : 08/25/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,388 sqft
  • Baths : 2 full
Listing Agent

Eric Gerard Realty

Listing Agent's Description

LOOK NO FURTHER! Welcome to this well kept and beautiful home sweet home! This gem features 3 bedrooms, 2 bathrooms and over 1300 sqft with a gorgeous curb appeal! Charming wood burning fireplace in the open and spacious living room, cozy eat-in kitchen, fresh paint and gorgeous carpet and tile throughout! Don't forget to check out the large and lanscaped backyard with a large privacy fence and open patio which is perfect for all your family get-togethers! You can't beat this beauty at this price!

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: The Mesa

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $79k243k

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

Neighborhood: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8191734

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$738
Property Tax -$504
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
$42

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.

$199,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.09%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$12,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4904$1,5455$1,695
$1,695
RENT COMPS ANALYSIS
  • 2141 Trishia Lane Glenn Heights, TX 3
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.07
    •  
  • 115 Mesa Wood Drive Glenn Heights, TX 1
    • 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,378 Sqft ∙ Built 1985
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 220 Hollywood Drive Glenn Heights, TX 2
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1995
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
  • 306 Monica Street Glenn Heights, TX 4
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1983
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.14
    •  
  • 216 W Glen Meadow Drive Glenn Heights, TX 5
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 1998
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.11
    •  
PROPERTY LISTING DETAILS
Eric Enge
Eric Gerard Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419655
Last Updated: 08/25/2020
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