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219 Meadowbrook Lane Keller, TX 76248

3 Beds 2 Baths 1,858 sqft Built 1984

INVESTimate

$265,500

List Price

$1,810

$1,629 - $1,991

Rent Est.

$280,209  ( +5.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $142.90
  • 6 Days on Market
  • MLS # : 14414963
  • Updated Date : 08/24/2020 at 13:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,858 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

RECENTLY UPDATED MEADOWLANDS SINGLE STORY CLOSE TO KELLER HIGH SCHOOL! You will feel right at home in the open-concept floor plan featuring a brick fireplace and large windows that bring in plenty of natural light. The study also serves as a flexible space that could be used as an additional living or dining area. Recent upgrades include fresh paint inside and out, recently updated windows and carpet, and bathroom updates. This one is a must-see! Fabulous location with access to Keller, Southlake, Roanoke, and Alliance areas. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: Meadowlands Keller

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $109k413k

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

Neighborhood: Meadowlands 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
Bear Creek Intermediate School Primary Regular 781 42 9
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Bear Creek Intermediate School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

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

$238,950$292,050$265,500

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$980
Property Tax -$557
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
$40

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.

$265,500

PROJECTED PRICE

$1,810

PROJECTED RENT

0.68%

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$76,108

INVESTMENT

$76,108

Down Payment
$66,375
Rehab Estimate
$5,750
Closing Costs
$3,983

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$980

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,375
Loan Amount $199,125
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$17,977

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,807

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6793$1,8104$1,8755$2,000
$2,000
RENT COMPS ANALYSIS
  • 219 Meadowbrook Lane Keller, TX 3
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.97
    •  
  • 420 Lorine Street Keller, TX 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1971
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 218 Meadowbrook Lane Keller, TX 2
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1984
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,679
    • $0.96
    •  
  • 124 Sioux Street Keller, TX 4
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1976
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.98
    •  
  • 710 Carmel Drive Keller, TX 5
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1992
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414963
Last Updated: 08/24/2020
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