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218 Wilderness Trail Mesquite, TX 75149

3 Beds 2 Baths 1,228 sqft Built 1984

$179,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $146.50
  • 6 Days on Market
  • MLS # : 14511414
  • Updated Date : 02/05/2021 at 14:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,228 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautifully updated home with so much attention to detail. Custom paint in living room with high vaulted ceilings and two skylights. Cozy brick fireplace has been customized with propane to work with logs and a gorgeous wood mantle. The patio has been enclosed with an updated roof and is a great place for pets or plants with a window unit and a space heater for comfort. The backyard features flagstone and a shed and has lovely shade which makes the backyard a wonderful place to enjoy the outdoors. The kitchen is open to the living room, dining room and features a breakfast bar and updated microwave. The spacious master features a separate vanity sink and a walk-in closet and the bathrooms have been updated.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Galloway Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $80k243k

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

Neighborhood: Galloway Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8731734

* 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
Hanby Elementary School Primary Regular 998 62 5
Wilkinson Middle School Middle Regular 928 64 6
Mesquite High School High Regular 2,851 168 4

Hanby Elementary School

  • Education Level: Primary
  • # of students: 998
  • # of teachers: 62
5
GreatSchools Rating

Wilkinson Middle School

  • Education Level: Middle
  • # of students: 928
  • # of teachers: 64
6
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$625
Property Tax -$436
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
$92

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.

$179,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$14,019

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,362

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,3904$1,3955$1,450
$1,450
RENT COMPS ANALYSIS
  • 218 Wilderness Trail Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.10
    •  
  • 1718 Hancock Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1985
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 240 Conger Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1983
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.11
    •  
  • 201 Conger Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,230 Sqft ∙ Built 1983
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.13
    •  
  • 1521 Liberty Lane Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1992
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.15
    •  
PROPERTY LISTING DETAILS
Jerla Murdock
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511414
Last Updated: 02/05/2021
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