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

2413 Robin Way Northlake, TX 76247

3 Beds 3 Baths 2,158 sqft Built 2020

INVESTimate

$352,936

List Price

$2,410

$2,169 - $2,651

Rent Est.

$383,712  ( +8.72%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $163.55
  • 7 Days on Market
  • MLS # : 14417282
  • Updated Date : 08/21/2020 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,158 sqft
  • Baths : 2 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

This BEAUTIFUL NEW DAVID WEEKLEY home in Pecan Square features a large front porch. Enjoy a private study, natural light in family room, and spacious owner's retreat. Kitchen is open to family room which is perfect for entertaining. Ask about our green features with guaranteed heating and cooling usage, new home warranty, and the excellent David Weekley Homes reputation!

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
 

$317,642$388,230$352,936

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,302
Property Tax -$735
Property Insurance -$152
HOA -$177
Property Management Fees -$99
CASH FLOW
-$55

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.

$352,936

PROJECTED PRICE

$2,410

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.72%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,528

INVESTMENT

$95,528

Down Payment
$88,234
Rehab Estimate
$2,000
Closing Costs
$5,294

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,234
Loan Amount $264,702
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,422

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4003$2,4104$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2413 Robin Way Northlake, TX 3
    • 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,158 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $1.12
    •  
  • 109 Cole Court Northlake, TX 1
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.13
    •  
  • 1716 Sparrow Street Northlake, TX 2
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 117 Cole Court Argyle, TX 4
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2015
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.11
    •  
  • 1820 Lark Lane Argyle, TX 5
    • 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.14
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417282
Last Updated: 08/21/2020
BESbswy