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217 Equestrian Road Hickory Creek, TX 75065

4 Beds 3 Baths 2,561 sqft Built 2017

$395,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $154.24
  • 4 Days on Market
  • MLS # : 14465630
  • Updated Date : 11/13/2020 at 21:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,561 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Charming one story home with an open concept floor plan and abundant windows. This meticulously maintained home has an eat-in kitchen and is open to the living area and breakfast area with granite countertops, stainless steel appliances, custom backsplash, butlers pantry with built in wine cooler, gas stove top with dark cabinets. High ceilings, custom lighting, wood floors, plantation shutters, and a stone fireplace. Covered back patio is perfect for entertaining or relaxing, gas line for outdoor grilling. MUST SEE!!

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

Zip Code: 75065

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k253k

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

Zip Code: 75065

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8871817

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,457
Property Tax -$738
Property Insurance -$175
HOA -$63
Property Management Fees -$99
CASH FLOW
-$342

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.

$395,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9953$2,1904$2,2005$2,550
$2,550
RENT COMPS ANALYSIS
  • 217 Equestrian Road Hickory Creek, TX 3
    • 4 beds 3 baths ∙ 2,561 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,561 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.86
    •  
  • 2808 Warwick Drive Corinth, TX 1
    • 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 2001
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 3300 Juneau Drive Corinth, TX 2
    • 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,393 Sqft ∙ Built 2004
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 205 Palomino Road Hickory Creek, TX 4
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2015
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 118 Saratoga Drive Hickory Creek, TX 5
    • 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2016
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Shelby Love
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465630
Last Updated: 11/13/2020
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