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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $137.35
- 4 Days on Market
- MLS # : 14472843
- Updated Date : 11/19/2020 at 20:00
CONSTRUCTION
- Beds : 3
- Floor Size : 3,494 sqft
- Baths : 4 full
Listing Agent
Melissa Hunter Realty Group
Listing Agent's Description
Want country? Beautifully remodeled 3494 sq.ft. with 2.324 acres. Huge island kitchen updates includes granite counters,tile back splash and floors, sink, fixtures, lighting. Repainted inside and out & laminate added downstairs, most light fixtures & lighting replaced. Large family rm with brick fireplace & walk-in bar. Pocket doors to dining and family rm. Over sized master suite with jetted tub, sep. shower, dual vanities, 2 walk-ins. Game or media rm. upstairs overlooks the commercial sized pool & cross fenced acreage. Replaced roof (2016), air conditioner (2018), pool pump(2016). Storage building. Unincorporated, no city taxes, can have livestock, workshops,etc. There is an easement for the shared driveway.
SEE MORE
- 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: West Highland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Highland
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,870 |
| EXPENSES | Loan Payment | -$1,771 |
| Property Tax | -$1,047 | |
| Property Insurance | -$229 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$276
|
||
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.
$479,900
PROJECTED PRICE
$2,870
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$132,924
LOAN DETAILS
$1,771
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $119,975 |
| Loan Amount | $359,925 |
1.67
YEARS SAVED
$6,727
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,870
LIST RENT -
$0.82
LIST RENT PER SQFT
-
$3,424
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
2321 Springer Road Midlothian, TX 1
- 3 beds 4 baths ∙ 3,494 Sqft ∙ Built 1994 3 beds 4 baths ∙ 3,494 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $2,870
- $0.82
-
8651 Glen Eagles Drive Ovilla, TX 2
- 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,277 Sqft ∙ Built 2001
LEASED 11/05/20- Rent
- Rent Per SQFT
- $3,200
- $0.98
PROPERTY LISTING DETAILS
Melissa Hunter Realty Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14472843
Last Updated: 11/19/2020
