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2503 Westpark Way Circle Euless, TX 76040

4 Beds 2 Baths 1,549 sqft Built 1980

$250,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $161.39
  • 6 Days on Market
  • MLS # : 14462438
  • Updated Date : 10/29/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,549 sqft
  • Baths : 2 full
Listing Agent

Listing Spark

Listing Agent's Description

I love the gas range, double ovens, gas fireplace, gas water heater, and the POOL! The backyard is an absolute oasis...huge patio with shade tree, pool, brick and vinyl fencing. NEW ROOF! Flooring and fixtures have all been updated. Open concept LR, DR, KITCHEN. The 4th bedroom is perfect for a HOME OFFICE or den. And every bedroom has a walk-in closet! Great neighborhood with highly rated schools.

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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

Neighborhood: Westpark Way Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $111k243k

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

Neighborhood: Westpark Way Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9441808

* 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
Wilshire Elementary School Primary Regular 747 42 7
Harwood Junior High School Middle Regular 998 57 8
Harwood Junior High School High Regular 998 57 8

Wilshire Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 42
7
GreatSchools Rating

Harwood Junior High School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 57
8
GreatSchools Rating

Harwood Junior High School

  • Education Level: High
  • # of students: 998
  • # of teachers: 57
8
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$922
Property Tax -$485
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
-$4

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,999

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,568

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5953$1,6204$1,6505$1,685
$1,685
RENT COMPS ANALYSIS
  • 2503 Westpark Way Circle Euless, TX 3
    • 4 beds 2 baths ∙ 1,549 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,549 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.05
    •  
  • 2300 Windsor Court Bedford, TX 1
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1972
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 500 Canyon Ridge Drive Euless, TX 2
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1964
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 1210 Trenton Lane Euless, TX 4
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1989
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 1107 Middlebury Lane Euless, TX 5
    • 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 1992
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.09
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462438
Last Updated: 10/29/2020
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