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

2424 Kingsridge Drive Dallas, TX 75287

3 Beds 2 Baths 1,929 sqft Built 1983

$315,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $163.30
  • 2 Days on Market
  • MLS # : 14483405
  • Updated Date : 12/11/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,929 sqft
  • Baths : 2 full
Listing Agent

Ready Real Estate

Listing Agent's Description

Great Corner lot! Home has been recently been updated! Includes 2 living areas, gas fireplace, 2 living & dining. Split bedrooms. Gas water heater wine or liquor bar right outside the 2nd living area. This floorplan is great for entertaining and making new memories. Front of home have lights on walk way. Back entry garage and NO HOA! Back yard is paradise! Covered patio that over looks the yard that has plenty of landscape, hot tub, decking outside firepit that you can cook on, Mature trees, and still have a side yard, if needed, for pets. Close proximity to shopping and dining. Home is ready for move in and new owners!!

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Sheffield Elementary School Primary Regular NA
Dan F. Long Middle School Middle Regular 718 51 4
Newman Smith High School High Regular 1,973 126 6

Sheffield Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Dan F. Long Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 51
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,162
Property Tax -$623
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
-$233

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,958

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8503$1,8954$1,8955$1,930
$1,930
RENT COMPS ANALYSIS
  • 2424 Kingsridge Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,929 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,929 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.93
    •  
  • 2508 Daybreak Drive Dallas, TX 2
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 1982
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 2607 Seedling Lane Dallas, TX 3
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 2242 Roundrock Drive Carrollton, TX 4
    • 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,991 Sqft ∙ Built 1980
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.95
    •  
  • 3043 Renaissance Court Dallas, TX 5
    • 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kimberly Kelly
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483405
Last Updated: 12/11/2020
BESbswy