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2415 N Winnetka Avenue Dallas, TX 75212

3 Beds 4 Baths 2,500 sqft Built 2021

$465,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $186.00
  • 3 Days on Market
  • MLS # : 14514486
  • Updated Date : 02/12/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,500 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dave Perry Miller Real Estate

Listing Agent's Description

Beautiful 2021 Built Contemporary SF -Attached with two masters, large covered and uncovered balconies with a view to Downtown Dallas. Welcoming entry with elegant hallway leads to the open Kit, DR, LR area with fireplace. A grass filled fenced backyard greets you from a spacious covered 15x7 patio. Experience the bright 2nd floor MBR with it's own covered balcony, fireplace & elegant ensuite bath with separate shower & garden tub. This floor also features a 2nd MBR with its own 8x6 private balcony & bath. Ascend to the third floor featuring a spacious 16x12 BR & perfect for entertaining 12x10 balcony that faces Downtown Dallas. Close to Bishop Arts, Downtown, Sylvan 30 and Trinity Groves. 2417 also available.

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: Muncie

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $60k243k

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

Neighborhood: Muncie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5601734

* 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
Sidney Lanier Expressive Arts Vanguard Primary Magnet 610 43 7
Thomas A. Edison Middle Learning Center Middle Regular 532 50 3

Sidney Lanier Expressive Arts Vanguard

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
7
GreatSchools Rating

Thomas A. Edison Middle Learning Center

  • Education Level: Middle
  • # of students: 532
  • # of teachers: 50
3
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,615
Property Tax -$1,103
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
-$448

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.

$465,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,225

INVESTMENT

$125,225

Down Payment
$116,250
Rehab Estimate
$2,000
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$559

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $3,525

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,540
1$2,5402$2,9753$3,1954$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 2415 N Winnetka Avenue Dallas, TX 1
    • 3 beds 4 baths ∙ 2,500 Sqft ∙ Built 2021 3 beds 4 baths ∙ 2,500 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.02
    •  
  • 4019 Puget Street Dallas, TX 2
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2020
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.19
    •  
  • 647 Aspen Valley Lane Dallas, TX 3
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.34
    •  
  • 2021 Dennison Street Dallas, TX 4
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2020
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.56
    •  
  • 1880 Stevens Bluff Lane Dallas, TX 5
    • 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
PROPERTY LISTING DETAILS
Rob Elmore
Dave Perry Miller Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514486
Last Updated: 02/12/2021
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