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2315 Stillwater Drive Mesquite, TX 75181

4 Beds 2 Baths 2,323 sqft Built 1991

$265,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $114.08
  • 2 Days on Market
  • MLS # : 14529830
  • Updated Date : 03/13/2021 at 21:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,323 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Fall in love with this ready to move in, single story 4 bedroom, 2 bath home in Creek Crossing Estates. **NO HOA!** Nicely updated though out. Wood laminate flooring- including all bedrooms, formal dining room and office. NO CARPET! Spacious living room includes a gorgeous gas fireplace feature perfect for relaxing with friends and family. Eat in kitchen with granite island and countertops, gas cooktop. Second living area may also be used as an office. Spa master bathroom with dual vanities. Rear entry two car garage. Fenced backyard is perfect for kids and pets to play. Foundation work completed in 2014 with fully transferrable warranty.

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: 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$920
Property Tax -$643
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
$166

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.

$265,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.75%

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$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$24,177

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,980

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,9853$1,9904$2,0005$2,045
$2,045
RENT COMPS ANALYSIS
  • 2315 Stillwater Drive Mesquite, TX 3
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.86
    •  
  • 2225 Austin Drive Mesquite, TX 1
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 1716 Trinity Hill Mesquite, TX 2
    • 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,320 Sqft ∙ Built 1991
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.86
    •  
  • 2415 Decoy Drive Mesquite, TX 4
    • 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,243 Sqft ∙ Built 2000
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 2241 Cross Timber Drive Mesquite, TX 5
    • 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 1987
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.92
    •  
PROPERTY LISTING DETAILS
Frances Kwan
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529830
Last Updated: 03/13/2021
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