Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2208 Lola Dallas, TX 75206

3 Beds 4 Baths 2,629 sqft Built 2015

$630,000

List Price

$3,730

$3.5K - $4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $239.63
  • 4 Days on Market
  • MLS # : 14510029
  • Updated Date : 02/04/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,629 sqft
  • Baths : 3 full , 1 half
Listing Agent

Stellar Real Estate, Llc

Listing Agent's Description

Gorgeous home great for entertaining! Light & bright w chef's kitchen complete w Bertazzoni range, quartz island, & modern cabinets. Spacious master & en-suite w rainfall shower, jetted tub, dual sinks, floating vanity & walk-in closet. Energy Star certified w multi-zone HVAC system. Plenty of storage w walk-in closets in every rm & upgraded overhead grg storage racks. Add'l upgrades include several smart features, dimmable LED lights, low maintenance yard w belgard patio & synthetic turf. Soft close pull-out pantry shelving. Large dual pane windows thru-out. Walk to Trader Joe's & countless shops, restaurants & bars. Minutes from Uptown, Downtown Dallas & White Rock Lake! Home will only be shown for 2 days!

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: Lowest Greenville West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $102k462k

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

Neighborhood: Lowest Greenville West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9472345

* 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
Geneva Heights Elementary School Primary Regular 351 26 5
J.l. Long Middle School Middle Regular 1,299 83 5
Woodrow Wilson High School High Regular 1,697 100 5

Geneva Heights Elementary School

  • Education Level: Primary
  • # of students: 351
  • # of teachers: 26
5
GreatSchools Rating

J.l. Long Middle School

  • Education Level: Middle
  • # of students: 1,299
  • # of teachers: 83
5
GreatSchools Rating

Woodrow Wilson High School

  • Education Level: High
  • # of students: 1,697
  • # of teachers: 100
5
GreatSchools Rating
 

$567,000$693,000$630,000

PURCHASE PRICE

$3,357$4,103$3,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,730
EXPENSES Loan Payment -$2,188
Property Tax -$1,494
Property Insurance -$179
HOA -$100
Property Management Fees -$99
CASH FLOW
-$330

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.

$630,000

PROJECTED PRICE

$3,730

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.1%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,700

INVESTMENT

$172,700

Down Payment
$157,500
Rehab Estimate
$5,750
Closing Costs
$9,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,188

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,500
Loan Amount $472,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,641

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,730

    LIST RENT
  • $1.42

    LIST RENT PER SQFT
  • $3,851

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,6003$3,7304$4,1955$4,200
$4,200
RENT COMPS ANALYSIS
  • 2208 Lola Dallas, TX 3
    • 3 beds 4 baths ∙ 2,629 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,629 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,730
    • $1.42
    •  
  • 5956 Lewis Street Dallas, TX 1
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2011
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.39
    •  
  • 2204 Lola Court Dallas, TX 2
    • 3 beds 4 baths ∙ 2,561 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,561 Sqft ∙ Built 2015
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.41
    •  
  • 2319 N Prairie Avenue Dallas, TX 4
    • 3 beds 3 baths ∙ 2,697 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,697 Sqft ∙ Built 2018
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,195
    • $1.56
    •  
  • 5723 Goodwin Avenue Dallas, TX 5
    • 3 beds 3 baths ∙ 2,801 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,801 Sqft ∙ Built 2010
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $1.50
    •  
PROPERTY LISTING DETAILS
Jaya Bhakta
Stellar Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510029
Last Updated: 02/04/2021
BESbswy