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2341 Mockingbird Court Northlake, TX 76247

4 Beds 3 Baths 2,800 sqft Built 2021

$351,140

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $125.41
  • 6 Days on Market
  • MLS # : 14472589
  • Updated Date : 11/19/2020 at 12:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,800 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Cambridge H - Built by D.R. Horton April 2021 completion. Substantial Square Footage, Large Peninsula Kitchen with a Breakfast Bar and a Free Standing Island, Upstairs Overlook Area to Great Room Below, Study, Game Room, Double Vanity in Second Bath! Perfect sized backyard has covered patio, sprinkler system. Pecan Square offers parks, pools, playgrounds, green spaces, co-working space, fitness center, post & parcel, onsite community host & IT professional, Lifestyle Manager, and The Arena a 22,000 SF covered pavilion for live music & community gatherings. Conveniently located just 1 mile from I35W, close to downtown Denton, UNT, TWU as well as Tanger Outlet. D.R. Horton is America's #1 Builder - come see why!

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

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
 

$316,026$386,254$351,140

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$1,296
Property Tax -$732
Property Insurance -$189
HOA -$175
Property Management Fees -$99
CASH FLOW
$230

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.

$351,140

PROJECTED PRICE

$2,720

PROJECTED RENT

0.77%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,052

INVESTMENT

$95,052

Down Payment
$87,785
Rehab Estimate
$2,000
Closing Costs
$5,267

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,296

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,785
Loan Amount $263,355
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$41,963

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,723

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6004$2,6505$2,720
$2,720
RENT COMPS ANALYSIS
  • 2341 Mockingbird Court Northlake, TX 5
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $0.97
    •  
  • 304 Gannet Trail Argyle, TX 1
    • 4 beds 4 baths ∙ 2,782 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,782 Sqft ∙ Built 2016
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 113 Oakmont Drive Argyle, TX 2
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 109 Oakmont Drive Northlake, TX 3
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 81 Oakmont Drive Argyle, TX 4
    • 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2017
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Sherri Blasingame
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 #: 14472589
Last Updated: 11/19/2020
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