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2428 Mallory Lane Lancaster, TX 75134

4 Beds 2 Baths 2,081 sqft Built 2001

$235,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $112.93
  • 3 Days on Market
  • MLS # : 14531036
  • Updated Date : 03/12/2021 at 16:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,081 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

**SHOWING START AT OPEN HOUSE SATURDAY 1PM TO 3PM** Welcome to this lovely 4 bedroom, 2 bath home. This one story beauty is the perfect starter home in an established neighborhood and offers many desirable features such as laminate floors, separate shower and tub in the master, an island and breakfast area. This highly functional layout is open, yet provides some separation with generous living space for each area of the home. Hurry, come on out and take a look, you’re bound to fall in love.

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

Neighborhood: Ames Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Ames Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Houston Elementary School Primary Regular 681 37 5
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Houston Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 37
5
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$816
Property Tax -$598
Property Insurance -$147
HOA -$11
Property Management Fees -$99
CASH FLOW
-$12

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.

$235,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$7,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,634

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5994$1,6505$1,660
$1,660
RENT COMPS ANALYSIS
  • 2428 Mallory Lane Lancaster, TX 5
    • 4 beds 2 baths ∙ 2,081 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,081 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.80
    •  
  • 2314 Mcintosh Court Lancaster, TX 1
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 2003
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 1905 Chapman Drive Lancaster, TX 2
    • 4 beds 2 baths ∙ 2,154 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,154 Sqft ∙ Built 2007
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.74
    •  
  • 1445 Bumble Bee Drive Lancaster, TX 3
    • 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,934 Sqft ∙ Built 2002
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.83
    •  
  • 1813 Chapman Drive Lancaster, TX 4
    • 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,055 Sqft ∙ Built 2005
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
PROPERTY LISTING DETAILS
Lisa Woulard
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531036
Last Updated: 03/12/2021
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