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2404 Pennsylvania Avenue Dallas, TX 75215

3 Beds 3 Baths 2,241 sqft Built 2018

$324,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $144.98
  • 6 Days on Market
  • MLS # : 14506822
  • Updated Date : 01/26/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,241 sqft
  • Baths : 2 full , 1 half
Listing Agent

Scottie Smith & Associates

Listing Agent's Description

Amazing Contemporary Modern Home Just minutes from Downtown Dallas. The beautiful home features 3 bedrooms 2.5 baths with a Study, open floor plan, 2200+ square feet of living space and Many Energy Efficient Features. Enjoy the beautiful weather from your covered back patio that overlooks the large backyard or hangout on the 2nd story 400 square foot balcony that overlooks the downtown skyline. With plenty of natural light, this home is perfect. The home is also built with Structurally Insulated Panels that seal the home airtight so that the owner experiences a true Energy Efficient home. Home comes equipped with Pre-wired Camera System. Mins from Downtown, Deep Ellum, and Fair Park and Easy highway access

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bertrand

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $53k243k

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

Neighborhood: Bertrand

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6851734

* 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
Martin Luther King Jr. Learning Center Primary Regular 502 33 2
Billy Earl Dade Middle School Middle Regular 888 68 2
James Madison High School High Regular 464 42 2

Martin Luther King Jr. Learning Center

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 33
2
GreatSchools Rating

Billy Earl Dade Middle School

  • Education Level: Middle
  • # of students: 888
  • # of teachers: 68
2
GreatSchools Rating

James Madison High School

  • Education Level: High
  • # of students: 464
  • # of teachers: 42
2
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,129
Property Tax -$834
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$398

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.

$324,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$36

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,748

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,820
1$1,8202$1,950
$1,950
RENT COMPS ANALYSIS
  • 2404 Pennsylvania Avenue Dallas, TX 1
    • 3 beds 3 baths ∙ 2,241 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,241 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.81
    •  
  • 607 Avenue G Dallas, TX 2
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 2019
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
PROPERTY LISTING DETAILS
Scottie Smith
Scottie Smith & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506822
Last Updated: 01/26/2021
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