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2408 Blackrail Court Northlake, TX 76226

4 Beds 3 Baths 2,799 sqft Built 2019

$395,000

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $141.12
  • 4 Days on Market
  • MLS # : 14527607
  • Updated Date : 03/11/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,799 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Charming DR Horton Home nestled in award winning Harvest Community*Located on an oversized pie shaped cul de sac lot, this gorgeous 4 BR home offers an open layout*Hardwood Tile throughout living areas*Chef's kitchen w white cabinets*Inviting family room includes a cast stone fp w gas starter*Private office*Boasting a custom oversized shower w bench, the spacious master BR is a welcoming retreat*3 BR up*Gameroom up*The huge backyard offers an extended patio & plenty of space for family fun*Bonus shed to remain*2 french drains*Community pools, nature trails, parks, organized community activities & a town green*With its warm sense of community, this home provides all the elements for relaxed, comfortable living.

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: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$1,372
Property Tax -$927
Property Insurance -$189
HOA -$150
Property Management Fees -$99
CASH FLOW
$263

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.

$395,000

PROJECTED PRICE

$3,000

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$36,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,000

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,995

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,8503$3,0004$3,0005$3,195
$3,195
RENT COMPS ANALYSIS
  • 2408 Blackrail Court Northlake, TX 4
    • 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
  • 402 Collin Street Argyle, TX 1
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2013
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.06
    •  
  • 405 Dallas Street Argyle, TX 2
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2008
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.14
    •  
  • 312 Creekside Trail Argyle, TX 3
    • 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
  • 1504 Monarch Trail Northlake, TX 5
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.09
    •  
PROPERTY LISTING DETAILS
Stephanie Seay
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527607
Last Updated: 03/11/2021
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