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2506 Bill Moses Parkway Farmers Branch, TX 75234

3 Beds 3 Baths 2,180 sqft Built 2014

INVESTimate

$399,900

List Price

$2,380

$2,142 - $2,618

Rent Est.

$432,372  ( +8.12%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $183.44
  • 6 Days on Market
  • MLS # : 14415479
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,180 sqft
  • Baths : 3 full
Listing Agent

Dfwcityhomes

Listing Agent's Description

Fantastic garden home in Mustang Crossing development with short walk to Farmers Branch DART Station. Hardwood floors, granite counters throughout, crown molding and huge master closet. Ton's of kitchen cabinet and counter-top space. Low E vinyl windows, tankless water heater, radiant barrier roof decking, make this home energy efficient. Beautiful parks, rose garden, walking trails and Rawhide Creek adjacent to neighborhood. Great location with easy access to major freeways, shopping, restaurants. Carrollton-Farmers Branch Schools.

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

Neighborhood: Farmers Branch

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $112k244k

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

Neighborhood: Farmers Branch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262032

* 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
Janie Stark Elementary School Primary Regular 692 40 8
Vivian Field Middle School Middle Regular 971 64 4
R.l. Turner High School High Regular 2,072 136 5

Janie Stark Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 40
8
GreatSchools Rating

Vivian Field Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 64
4
GreatSchools Rating

R.l. Turner High School

  • Education Level: High
  • # of students: 2,072
  • # of teachers: 136
5
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,142$2,618$2,380

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,475
Property Tax -$875
Property Insurance -$153
HOA -$121
Property Management Fees -$99
CASH FLOW
-$344

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.

$399,900

PROJECTED PRICE

$2,380

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.12%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,572

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,380
1$2,3802$2,5003$3,000
$3,000
RENT COMPS ANALYSIS
  • 2506 Bill Moses Parkway Farmers Branch, TX 1
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $1.09
    •  
  • 13903 Rawhide Parkway Farmers Branch, TX 2
    • 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,224 Sqft ∙ Built 2014
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.12
    •  
  • 12631 Prescott Place Farmers Branch, TX 3
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2019
    property image
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.24
    •  
PROPERTY LISTING DETAILS
Tod Franklin
Dfwcityhomes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415479
Last Updated: 08/22/2020
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