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2233 San Simeon Drive Mesquite, TX 75181

4 Beds 3 Baths 3,012 sqft Built 2000

$295,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $97.94
  • 2 Days on Market
  • MLS # : 14481720
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,012 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jr Premier Properties

Listing Agent's Description

Beautiful updated & move in ready! Large open entryway leads into the great size living area with cozy gas fireplace, just in time for this cold winter weather. Open floorplan, great for entertianing! Kitchen has granite countertops, stainless appliances, built in microwave & breakfast bar. Large master bedroom, all bedrooms are great size! walkin closets, large laundry room. Front yard is beautifully landscaped with pleanty of parking on the oversized driveway. Great size backyard has large covered patio and a shed in the back for extra storage. This home is very well maintained and ready for its new owners! Buyer to verify all information including but not limited to square footage, room sizes,schools,etc.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Cantura Cove

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Cantura Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9701873

* 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
Smith Elementary School Primary Regular 477 29 4
Berry Middle School Middle Regular 910 55 5
John Horn High School High Regular 2,284 140 4

Smith Elementary School

  • Education Level: Primary
  • # of students: 477
  • # of teachers: 29
4
GreatSchools Rating

Berry Middle School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 55
5
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,088
Property Tax -$715
Property Insurance -$201
HOA -$38
Property Management Fees -$99
CASH FLOW
$228

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.

$295,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$36,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,357

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9953$2,3704$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2233 San Simeon Drive Mesquite, TX 3
    • 4 beds 3 baths ∙ 3,012 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,012 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.79
    •  
  • 2129 San Simeon Drive Mesquite, TX 1
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2000
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.69
    •  
  • 804 Buckeye Drive Mesquite, TX 2
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 1988
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 1119 Hidden Ridge Drive Mesquite, TX 4
    • 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,792 Sqft ∙ Built 1999
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 1808 Willow Creek Mesquite, TX 5
    • 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 1994
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Raquel Sanchez
Jr Premier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481720
Last Updated: 12/04/2020
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