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216 Honey Brook Lane Aledo, TX 76008

4 Beds 2 Baths 2,055 sqft Built 2020

$338,423

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $164.68
  • 5 Days on Market
  • MLS # : 14489968
  • Updated Date : 12/23/2020 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,055 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

BEAUTIFUL COMPLETED NEW CONSTRUCTION in MORNINGSTAR & ALEDO ISD by AMERICA'S BUILDER D.R. HORTON!!~Victoria Floor Plan(Elev A)~One Story Open concept Living,Dining & Kitchen Floorplan with Granite CT,Tiled Backsplash,extended Seating Island,built-in appliances,Gas Coopktop & large W-I Pantry*Primary Bedroom with dual sink vanity,over sized Shower & big W-I Closet*Large backyard & covered back Patio with corner fireplace~Home is Connected Smart Home Technology*Designer package including Woodlook Tile throughout & Wet areas*Landscape Package,full Sprinkler System & more!*Master Planned Community with Resort style Pools & Cabanas,Pavilion,Indoor Event Center,Hiking & Bike Trails,Stocked Lakes & Play Yards

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: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k393k

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

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $11262811

* 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
Mcanally Intermediate School Primary Regular 785 43 7
Aledo Middle School Middle Regular 804 47 9
Aledo High School High Regular 1,193 72 7

Mcanally Intermediate School

  • Education Level: Primary
  • # of students: 785
  • # of teachers: 43
7
GreatSchools Rating

Aledo Middle School

  • Education Level: Middle
  • # of students: 804
  • # of teachers: 47
9
GreatSchools Rating

Aledo High School

  • Education Level: High
  • # of students: 1,193
  • # of teachers: 72
7
GreatSchools Rating
 

$304,581$372,265$338,423

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,249
Property Tax -$758
Property Insurance -$146
HOA -$78
Property Management Fees -$99
CASH FLOW
-$20

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$338,423

PROJECTED PRICE

$2,310

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$91,682

INVESTMENT

$91,682

Down Payment
$84,606
Rehab Estimate
$2,000
Closing Costs
$5,076

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,249

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,606
Loan Amount $253,817
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$15,615

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,266

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3103$2,4954$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 216 Honey Brook Lane Aledo, TX 2
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.12
    •  
  • 213 Mineral Point Drive Aledo, TX 1
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2016
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
  • 205 Mineral Point Drive Aledo, TX 3
    • 3 beds 3 baths ∙ 2,352 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,352 Sqft ∙ Built 2016
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.06
    •  
  • 15017 Teasley Avenue Aledo, TX 4
    • 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2017
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.11
    •  
  • 14925 Belclaire Avenue Aledo, TX 5
    • 3 beds 2 baths ∙ 2,317 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,317 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.12
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489968
Last Updated: 12/23/2020
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