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2229 Montrose Lane 
Lancaster, TX
75134
4 Beds 2 Baths 1,623 sqft
Built 2012
INVESTimate
$175,000
List Price
$52,125
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PROPERTY INFO
FACTS
- Built In 2012
- Price/Sqft : $107.83
- 2 Days on Market
- MLS # : 14419390
- Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
- Beds : 4
- Floor Size : 1,623 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Apex, Realtors
Listing Agent's Description
Price to sale!! Good basic home with flexible floor plan. Needs some minor work. Four large bedrooms, two baths, with a garage for two cars. Kitchen has nice cabinets a large island and plenty of counter space. Dining and living room combo. Great for a beginner’s home or for investment property. No blind offers will be accepted.
SEE MORE
- . 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: Ames Meadow
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Ames Meadow
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,440 |
| EXPENSES | Loan Payment | -$646 |
| Property Tax | -$445 | |
| Property Insurance | -$121 | |
| HOA | -$11 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$118
|
||
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.
$175,000
PROJECTED PRICE
$1,440
PROJECTED RENT
0.82%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.74% |
| Appreciation Year (1-5) | 11.76% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.69% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$52,125
LOAN DETAILS
$646
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $43,750 |
| Loan Amount | $131,250 |
7.42
YEARS SAVED
$18,551
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,440
LIST RENT -
$0.89
LIST RENT PER SQFT
-
$1,538
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
-
2229 Montrose Lane Lancaster, TX 1
- 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,623 Sqft ∙ Built 2012
- Rent
- Rent Per SQFT
- $1,440
- $0.89
-
3124 Crimson Clover Drive Lancaster, TX 2
- 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2004
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,595
- $0.89
-
1233 Candler Drive Lancaster, TX 3
- 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2005
LEASED 07/23/20- Rent
- Rent Per SQFT
- $1,625
- $0.94
-
2615 Frederick Street Lancaster, TX 4
- 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2007
LEASED 04/22/20- Rent
- Rent Per SQFT
- $1,725
- $0.97
-
2946 Marquis Lane Lancaster, TX 5
- 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 2002
LEASED 08/14/20- Rent
- Rent Per SQFT
- $1,750
- $0.99
PROPERTY LISTING DETAILS
Coldwell Banker Apex, Realtors
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14419390
Last Updated: 08/25/2020
