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221 Tallgrass Drive Lavon, TX 75166

4 Beds 3 Baths 2,121 sqft Built 2020

$327,900

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $154.60
  • 3 Days on Market
  • MLS # : 14467009
  • Updated Date : 11/06/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,121 sqft
  • Baths : 3 full
Listing Agent

Pacesetter Homes

Listing Agent's Description

MLS# 14467009 - Built by Pacesetter Homes - February completion! ~ Pacesetter Homes brand new Coppell floorplan with the optional 4th bedroom, 3rd bath. This best selling floor plan has 10 ceilings, split bedrooms, bedroom 4 has its own ensuite bath, secluded master suite with window seat, dedicated study off the wide entry hall, large covered back porch, deluxe kitchen with gas cooktop, exterior venting, built-in wall oven and microwave, extra window seats, Luxury Vinyl Plank flooring throughout the living areas, large windows let in loads of natural light, granite counters, stainless appl, high end finish out throughout this beautiful new home!

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: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$295,110$360,690$327,900

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,210
Property Tax -$629
Property Insurance -$150
HOA -$53
Property Management Fees -$99
CASH FLOW
-$301

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$327,900

PROJECTED PRICE

$1,840

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,894

INVESTMENT

$88,894

Down Payment
$81,975
Rehab Estimate
$2,000
Closing Costs
$4,919

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,210

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,975
Loan Amount $245,925
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7954$1,8405$1,850
$1,850
RENT COMPS ANALYSIS
  • 221 Tallgrass Drive Lavon, TX 4
    • 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,121 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.87
    •  
  • 425 Eisenhower Lane Lavon, TX 1
    • 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2006
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 498 Eisenhower Lane Lavon, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 517 Grant Lane Lavon, TX 3
    • 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,271 Sqft ∙ Built 2007
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 266 Houston Street Lavon, TX 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dennis Ciani
Pacesetter Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467009
Last Updated: 11/06/2020
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