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2432 Stella Lane Northlake, TX 76247

4 Beds 4 Baths 2,999 sqft Built 2020

$503,900

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $168.02
  • 5 Days on Market
  • MLS # : 14473413
  • Updated Date : 11/18/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,999 sqft
  • Baths : 3 full , 1 half
Listing Agent

Britton Homes

Listing Agent's Description

PERRY HOMES NEW CONSTRUCTION! Home office with French doors set at two-story entry. Open kitchen hosts inviting island with built-in seating space. Two-story dining area opens to two-story family room with a wood mantel fireplace and a wall of windows. First-floor primary suite with wall of windows. Dual vanities, garden tub, separate glass-enclosed shower and two walk-in closets in primary bath. A guest suite with full bath is downstairs. Two secondary bedrooms, a game room and media room with French doors are upstairs. All bedrooms include walk-in closets. Covered backyard patio. Mud room off three-car garage.

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
 

$453,510$554,290$503,900

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$1,859
Property Tax -$1,050
Property Insurance -$200
HOA -$177
Property Management Fees -$99
CASH FLOW
-$495

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.

$503,900

PROJECTED PRICE

$2,890

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,534

INVESTMENT

$135,534

Down Payment
$125,975
Rehab Estimate
$2,000
Closing Costs
$7,559

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,859

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,975
Loan Amount $377,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,887

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,8904$3,2005$3,275
$3,275
RENT COMPS ANALYSIS
  • 2432 Stella Lane Northlake, TX 3
    • 4 beds 4 baths ∙ 2,999 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,999 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.96
    •  
  • 304 Gannet Trail Argyle, TX 1
    • 4 beds 4 baths ∙ 2,782 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,782 Sqft ∙ Built 2016
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 109 Oakmont Drive Northlake, TX 2
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2015
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 213 Lilypad Bend Argyle, TX 4
    • 4 beds 3 baths ∙ 3,260 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,260 Sqft ∙ Built 2014
    property image
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.98
    •  
  • 224 Lilypad Bend Argyle, TX 5
    • 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $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 #: 14473413
Last Updated: 11/18/2020
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