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2508 Crooked Creek Mesquite, TX 75181

3 Beds 2 Baths 1,843 sqft Built 1997

$249,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $135.59
  • 3 Days on Market
  • MLS # : 14466984
  • Updated Date : 11/06/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,843 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Open floor-plan home in Mesquite on a corner lot. This space has several updates that buyers are looking for. The spacious kitchen features new lighting fixtures, new paint, and flows right into the gorgeous living room. You can relax by the fireplace with new logs and lava rocks and enjoy the natural light coming in from the plantation shutters. The owner suite has it all with an abundance of space and newly updated ensuite. The bathrooms have new tile floors, granite countertops, and updated sinks. Enjoy the outdoors with a patio great for entertaining and oversized grass space. A few other updates include new front door, AC heat thermostat, and fireplace. This home has been kept in great shape.

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: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Pirrung Elementary School Primary Regular 473 30 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Pirrung Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 30
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$922
Property Tax -$606
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$39

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.

$249,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

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 $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,976

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,7954$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 2508 Crooked Creek Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 2605 Hackberry Creek Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1995
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 1636 Ariel Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 1991
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 1300 Greenfield Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1994
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 2704 Creek Crossing Road Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1987
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
PROPERTY LISTING DETAILS
Troy Olson
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466984
Last Updated: 11/06/2020
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