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2313 Homestead Drive Mesquite, TX 75181

4 Beds 2 Baths 2,323 sqft Built 1992

$269,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $116.19
  • 2 Days on Market
  • MLS # : 14481880
  • Updated Date : 12/05/2020 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,323 sqft
  • Baths : 2 full
Listing Agent

Home Capital Realty Llc

Listing Agent's Description

Updated and move in ready. Kitchen has granite, new SS apps, gas stove, white cabinets, marble backsplash, island, large pantry. Luxury Vinyl Plank in main areas. New carpet in bedrooms. Master bath has granite, dual sinks, frameless shower glass on order, walk in closet. 4th bedroom is extra large and could be media room or gym or large office for two. gated driveway, carport, shed in backyard.

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: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Thompson Elementary School Primary Regular 569 34 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Thompson Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 34
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

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

$242,910$296,890$269,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$996
Property Tax -$655
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
-$191

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.

$269,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,771

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7203$1,7254$1,8955$1,895
$1,895
RENT COMPS ANALYSIS
  • 2313 Homestead Drive Mesquite, TX 2
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.74
    •  
  • 2801 Clearmeadow Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 2,241 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,241 Sqft ∙ Built 1990
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.76
    •  
  • 2225 Austin Drive Mesquite, TX 3
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 3104 Caribou Court Mesquite, TX 4
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 1998
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 2421 Rimrock Trail Mesquite, TX 5
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2001
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.77
    •  
PROPERTY LISTING DETAILS
Scott Cameron
Home Capital Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481880
Last Updated: 12/05/2020
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