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245 Meadowlands Drive Ponder, TX 76259

3 Beds 3 Baths 1,997 sqft Built 2016

$256,900

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $128.64
  • 2 Days on Market
  • MLS # : 14497113
  • Updated Date : 01/09/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,997 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ellis Realty Group

Listing Agent's Description

Beautiful 2 Story home located in Remington Park on a large corner lot. This lovely home features 3 bedrooms plus a study, den or dining room, 2.5 baths, nice kitchen with stainless steel appliances, large island, granite countertops and open to living room and breakfast nook. Master bedroom is located downstairs with large master bath, dual sinks, garden tub and walk-in closet. Upstairs includes 2 bedrooms, a full bath and a game room. Large backyard with covered patio and storage shed. Great community with playground, park and walking trails. Close to shopping and UNT. Buyer to verify measurements.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76259

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $106k336k

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

Zip Code: 76259

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8052171

* 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
Ponder Elementary School Primary Regular 610 43 5
Ponder Junior High School Middle Regular 291 21 7
Ponder High School High Regular 399 29 4

Ponder Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
5
GreatSchools Rating

Ponder Junior High School

  • Education Level: Middle
  • # of students: 291
  • # of teachers: 21
7
GreatSchools Rating

Ponder High School

  • Education Level: High
  • # of students: 399
  • # of teachers: 29
4
GreatSchools Rating
 

$231,210$282,590$256,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$892
Property Tax -$499
Property Insurance -$143
HOA -$15
Property Management Fees -$99
CASH FLOW
$112

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.

$256,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,829

INVESTMENT

$73,829

Down Payment
$64,225
Rehab Estimate
$5,750
Closing Costs
$3,854

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$892

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,225
Loan Amount $192,675
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$20,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7503$1,7604$1,800
$1,800
RENT COMPS ANALYSIS
  • 245 Meadowlands Drive Ponder, TX 3
    • 3 beds 3 baths ∙ 1,997 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,997 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.88
    •  
  • 525 Cantebury Park Lane Ponder, TX 1
    • 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,913 Sqft ∙ Built 2004
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 214 Southpeak Lane Ponder, TX 2
    • 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,862 Sqft ∙ Built 2004
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 247 Saratoga Drive Ponder, TX 4
    • 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,765 Sqft ∙ Built 2017
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
PROPERTY LISTING DETAILS
Melissa Ellis
Ellis Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497113
Last Updated: 01/09/2021
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