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2217 Salerno Drive Mesquite, TX 75150

4 Beds 3 Baths 2,484 sqft Built 1983

$239,900

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $96.58
  • 4 Days on Market
  • MLS # : 14511169
  • Updated Date : 02/05/2021 at 22:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,484 sqft
  • Baths : 2 full , 1 half
Listing Agent

G+a Real Estate

Listing Agent's Description

Welcome home to this wonderful corner lot property with a large backyard. This home features 2 living rooms, 2 dining areas with new carpet throughout. Quick access to highways and schools. Bring your creativity and vision to make this wonderful house your dream home!

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: Timberland

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Timberland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701734

* 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
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$833
Property Tax -$582
Property Insurance -$171
Property Management Fees -$99
CASH FLOW
$415

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.

$239,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

12.5

YEARS SAVED

$46,590

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,418

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1003$2,1004$2,300
$2,300
RENT COMPS ANALYSIS
  • 2217 Salerno Drive Mesquite, TX 3
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 900 Yosemite Trail Mesquite, TX 1
    • 3 beds 2 baths ∙ 2,178 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,178 Sqft ∙ Built 1993
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 301 Rain Tree Drive Sunnyvale, TX 2
    • 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 2001
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 3409 Chapelwood Drive Sunnyvale, TX 4
    • 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,168 Sqft ∙ Built 1998
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
PROPERTY LISTING DETAILS
Subhi Gharbieh
G+a Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511169
Last Updated: 02/05/2021
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