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

2450 Siltstone Midlothian, TX 76065

4 Beds 4 Baths 2,973 sqft Built 2017

INVESTimate

$509,999

List Price

$2,480

$2,232 - $2,728

Rent Est.

$548,963  ( +7.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $171.54
  • 2 Days on Market
  • MLS # : 14419464
  • Updated Date : 08/25/2020 at 22:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,973 sqft
  • Baths : 3 full , 1 half
Listing Agent

Stryve Realty Llc

Listing Agent's Description

Welcome home! This is a beautiful and well maintained home built on a little more than an acre. This is what you have been looking for!

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

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
Mt. Peak Elementary School Primary Regular 706 43 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Mt. Peak Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
6
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$458,999$560,999$509,999

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,882
Property Tax -$1,113
Property Insurance -$199
HOA -$29
Property Management Fees -$99
CASH FLOW
-$842

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.

$509,999

PROJECTED PRICE

$2,480

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.64%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,499
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,587

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4503$2,480
$2,480
RENT COMPS ANALYSIS
  • 2450 Siltstone Midlothian, TX 3
    • 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.83
    •  
  • 437 Bentley Drive Midlothian, TX 1
    • 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 450 Bentley Drive Midlothian, TX 2
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
PROPERTY LISTING DETAILS
Tammy Allard
Stryve Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419464
Last Updated: 08/25/2020
BESbswy