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245 Hawthorn Drive Lavon, TX 75166

3 Beds 2 Baths 1,917 sqft Built 2020

$311,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $162.70
  • 2 Days on Market
  • MLS # : 14475636
  • Updated Date : 11/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,917 sqft
  • Baths : 2 full
Listing Agent

Pacesetter Homes

Listing Agent's Description

MLS# 14475636 - Built by Pacesetter Homes - January completion! ~ Pacesetter Homes popular Coppell floor plan with the 3 car tandem garage. This best selling floor plan offers 3 bedrooms, 2 baths, a dedicated study, 3 car tandem garage, the Deluxe Kitchen package and giant extended covered back porch! High and features throughout including stainless appliances, gas cooktop, Luxury Vinyl plank flooring, granite counters, optional stone on the front of the most popular elevation - like our model home!

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: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$280,710$343,090$311,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,151
Property Tax -$599
Property Insurance -$138
HOA -$53
Property Management Fees -$99
CASH FLOW
-$329

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.

$311,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,654

INVESTMENT

$84,654

Down Payment
$77,975
Rehab Estimate
$2,000
Closing Costs
$4,679

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,975
Loan Amount $233,925
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,730

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7105$1,850
$1,850
RENT COMPS ANALYSIS
  • 245 Hawthorn Drive Lavon, TX 4
    • 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,917 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.89
    •  
  • 498 Eisenhower Lane Lavon, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 420 Windmill Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 536 Lincoln Avenue Lavon, TX 3
    • 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 266 Houston Street Lavon, TX 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dennis Ciani
Pacesetter Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475636
Last Updated: 11/21/2020
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