Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2330 Vagas Street Dallas, TX 75219

3 Beds 2 Baths 1,283 sqft Built 1997

$382,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $297.74
  • 6 Days on Market
  • MLS # : 14511591
  • Updated Date : 02/02/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,283 sqft
  • Baths : 2 full
Listing Agent

The Michael Group

Listing Agent's Description

Home located in Medical District Home approximately 1,283 square feet, 3 beds and 2 baths with a lot size of 7,349 square feet. Home has been well maintained

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: Medical District

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k346k

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

Neighborhood: Medical District

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9472778

* 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
Esperanza Medrano Elementary School Primary Regular 567 32 4
Thomas J. Rusk Middle School Middle Regular 572 41 3
North Dallas High School High Regular 1,212 82 2

Esperanza Medrano Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 32
4
GreatSchools Rating

Thomas J. Rusk Middle School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 41
3
GreatSchools Rating

North Dallas High School

  • Education Level: High
  • # of students: 1,212
  • # of teachers: 82
2
GreatSchools Rating
 

$343,800$420,200$382,000

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 -$1,327
Property Tax -$906
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
-$323

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.

$382,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.6%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,980

INVESTMENT

$106,980

Down Payment
$95,500
Rehab Estimate
$5,750
Closing Costs
$5,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,500
Loan Amount $286,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,239

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
  • $1.64

    LIST RENT PER SQFT
  • $2,181

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1103$2,4504$3,000
$3,000
RENT COMPS ANALYSIS
  • 2330 Vagas Street Dallas, TX 2
    • 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,283 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.64
    •  
  • 4530 Afton Street Dallas, TX 1
    • 4 beds 2 baths ∙ 1,505 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,505 Sqft ∙ Built 2002
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.20
    •  
  • 2438 Wycliff Avenue Dallas, TX 3
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 2003
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $2.01
    •  
  • 5445 Beecher Street Dallas, TX 4
    • 3 beds 4 baths ∙ 1,586 Sqft ∙ Built 2017 3 beds 4 baths ∙ 1,586 Sqft ∙ Built 2017
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.89
    •  
PROPERTY LISTING DETAILS
Stacy Madden
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511591
Last Updated: 02/02/2021
BESbswy