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2312 Shorthorn Drive Northlake, TX 76247

4 Beds 2 Baths 1,806 sqft Built 2021

$287,990

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $159.46
  • 4 Days on Market
  • MLS # : 14495579
  • Updated Date : 01/09/2021 at 09:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,806 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

SELLING NOW!!~GORGEOUS NEW D.R. HORTON HOME in the MASTER PLANNED COMMUNITY OF PECAN SQUARE in NORTHLAKE & NORTHWEST ISD!~Junction Floorplan (Elev G) Est completion Spring 2021*Open concept Living,Dining & Kitchen with Granite CT,Gas Range,over sized Island & W-I Pantry*Spacious Living with vaulted ceiling & Fireplace*Lrg Primary Bedroom with wide 2 sink vanity,Garden Tub,over sized Shower & big W-I Closet*Designer pkg including Tiled Entry,Hallways & Wet areas*Home is Connected Smart Home Technology,covered back Patio,Full Sprinklers & Landscape Pkg*Community offers Pools,Playgrounds,Clubhouse with co-working space,state-of-the-art Fitness Center,Post & Parcel Store,Arena for Live Music,gatherings & much more

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10532370

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$259,191$316,789$287,990

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,000
Property Tax -$600
Property Insurance -$132
HOA -$175
Property Management Fees -$99
CASH FLOW
$104

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.

$287,990

PROJECTED PRICE

$2,110

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,317

INVESTMENT

$78,317

Down Payment
$71,998
Rehab Estimate
$2,000
Closing Costs
$4,320

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,998
Loan Amount $215,993
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,059

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,1503$2,1504$2,1955$2,295
$2,295
RENT COMPS ANALYSIS
  • 2312 Shorthorn Drive Northlake, TX 1
    • 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.17
    •  
  • 1712 Henderson Drive Northlake, TX 2
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2016
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.11
    •  
  • 1720 Cole Lane Northlake, TX 3
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.15
    •  
  • 517 Gannet Trail Northlake, TX 4
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2017
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.17
    •  
  • 109 Cole Court Northlake, TX 5
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495579
Last Updated: 01/09/2021
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