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217 Park Place Court Keller, TX 76248

4 Beds 3 Baths 2,584 sqft Built 2007

INVESTimate

$395,000

List Price

$2,300

$2,070 - $2,530

Rent Est.

$416,883  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $152.86
  • 6 Days on Market
  • MLS # : 14400407
  • Updated Date : 08/23/2020 at 08:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,584 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

What a great buy! This nicely appointed 4-bedroom family-sized home offers lots of room to grow. Relaxed, easygoing elegance is displayed in crown molding trim, decorator paint, high ceilings, rich flooring & plantation shutters. Marble entry. Formal living w French doors, could be used as a study. Large chef’s kitchen features granite countertops, decorative tile backsplash, stainless appliances & coffee bar, and opens to the family room w floor-to-ceiling brick, gas log fireplace & windows that look to the backyard. All bedrooms, plus 2 full-size baths are up. Huge master suite w wood flooring; bath w 2 sinks, 2 closets & jetted tub. Wall of built-ins in one secondary bedroom. Nicely landscaped.Covered patio

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: Westpark Keller

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Westpark Keller

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

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

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,457
Property Tax -$829
Property Insurance -$177
Property Management Fees -$99
CASH FLOW
-$262

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.

$395,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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 65% 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

1.58

YEARS SAVED

$4,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,306

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3003$2,3954$2,4255$2,650
$2,650
RENT COMPS ANALYSIS
  • 217 Park Place Court Keller, TX 2
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 416 Roland Drive Keller, TX 1
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 1996
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 1308 Mcentire Court Keller, TX 3
    • 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,859 Sqft ∙ Built 2002
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.84
    •  
  • 220 Longford Court Keller, TX 4
    • 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 2003
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $0.88
    •  
  • 228 Carlow Court Keller, TX 5
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2006
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Brandee Kelley
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14400407
Last Updated: 08/23/2020
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