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2418 Amesbury Drive Midlothian, TX 76065

4 Beds 4 Baths 2,737 sqft Built 2020

$474,900

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $173.51
  • 4 Days on Market
  • MLS # : 14470351
  • Updated Date : 11/12/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,737 sqft
  • Baths : 3 full , 1 half
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Extended entry with 12-foot ceiling. Home office with French doors. Large utility room. Game room with French doors. Kitchen features an island with built-in seating space and corner walk-in pantry. Dining area with wall of windows. Open family room with a wood mantel fireplace and a wall of windows. Secluded primary suite. Double door entry to primary bath with dual vanities, garden tub, separate glass-enclosed shower and large walk-in closet. Guest suite with walk-in closet. Covered backyard patio. Two-car garage.

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$427,410$522,390$474,900

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 -$1,752
Property Tax -$1,036
Property Insurance -$185
HOA -$158
Property Management Fees -$99
CASH FLOW
-$691

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.

$474,900

PROJECTED PRICE

$2,540

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$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$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,849

INVESTMENT

$127,849

Down Payment
$118,725
Rehab Estimate
$2,000
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$26

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
  • $0.93

    LIST RENT PER SQFT
  • $2,518

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,5003$2,5404$2,600
$2,600
RENT COMPS ANALYSIS
  • 2418 Amesbury Drive Midlothian, TX 3
    • 4 beds 4 baths ∙ 2,737 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,737 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.93
    •  
  • 2005 Fawn Drive Midlothian, TX 1
    • 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,396 Sqft ∙ Built 2006
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.79
    •  
  • 405 Brook Meadow Drive Midlothian, TX 2
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2017
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 3457 Brighton Drive Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Larry Delzell
Britton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470351
Last Updated: 11/12/2020
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