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2510 Cowbird Way Northlake, TX 76247

3 Beds 2 Baths 1,941 sqft Built 2020

$338,800

List Price

$2,200

$2K - $2.4K

Rent Est.

$91,782

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+8.7%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.1%
Cash Flow	-$2,052
Value Increase	$29,718

10 YEAR

Cash On Cash	-4.2%
Total Return	12.1%

PROPERTY INFO

Built 2020 NEW CONSTRUCTION

December 28, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 2020
Price/Sqft : $174.55
7 Days on Market
MLS # : 14491138
Updated Date : 12/28/2020 at 17:00

CONSTRUCTION

Beds : 3
Floor Size : 1,941 sqft
Baths : 2 full

Listing Agent

Toby Jones

Listing Agent's Description

NEW CONSTRUCTION - Pecan Square in Northlake. Beautiful single story EMORY plan. Available for immediate move-in. 3BR, 2BA + Granite counters + Recessed Lighting + Fireplace in Gathering + Stainless Whirlpool Appliances - 1941 sq.ft. Open concept layout with granite, 42 inch upper cabinets - gray, pendant lighting in Kitchen. Upgraded tile floors and carpet throughout main living areas and covered back patio.

MARKET HIGHLIGHTS

Dallas Market Report

# 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)

Zip Code: 76247

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

Zip Code: 76247

* 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
Justin Elementary School	Primary	Regular	506	33	5
Gene Pike Middle School	Middle	Regular	743	53	7
Northwest High School	High	Regular	2,793	170	6

Justin Elementary School

Education Level: Primary
# of students: 506
# of teachers: 33

GreatSchools Rating

Gene Pike Middle School

Education Level: Middle
# of students: 743
# of teachers: 53

GreatSchools Rating

Northwest High School

Education Level: High
# of students: 2,793
# of teachers: 170

GreatSchools Rating

FINANCIALS

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$304,920$372,68000$338,800

PURCHASE PRICE

$1,980$2,42000$2,200

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$2,200
EXPENSES	Loan Payment	-$1,250
	Property Tax	-$706
	Property Insurance	-$139
	HOA	-$177
	Property Management Fees	-$99



CASH FLOW -$171

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$338,800

PROJECTED PRICE

$2,200

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	3.94%
Appreciation Year (1-5)	8.7%
Maintenance Year (1-5)	3.00%
Vacancy	6.93%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$91,782

Down Payment	$84,700
Rehab Estimate	$2,000
Closing Costs	$5,082

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$84,700
Loan Amount	$254,100

See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,474

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$2,200
LIST RENT
$1.13
LIST RENT PER SQFT

$2,203
COMP ESTIMATED VALUE
$1.14
COMP AVG. RENT PER SQFT

Comps Range

$2,200

1$2,2002$2,2953$2,4004$2,5005$2,550

$2,550

RENT COMPS ANALYSIS

1,941
PROPERTY SQFT
$1.14
AVG RENT PER SQFT
$2,203
ESTIMATED VALUE
$2,200
LIST RENT

2510 Cowbird Way Northlake, TX 5

3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020
Price

Price Per SQFT

$338,800

$174.55
2425 Coyote Way Northlake, TX 1

3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2020
SOLD 07/31/20
Price

Price Per SQFT

$304,990

$149.87
2613 Little Wonder Lane Northlake, TX 2

3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020
SOLD 09/25/20
Price

Price Per SQFT

$306,330

$157.82
2504 Atticus Way Northlake, TX 3

3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2020
SOLD 08/05/20
Price

Price Per SQFT

$306,494

$150.61
2428 Rooster Lane Northlake, TX 4

3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,035 Sqft ∙ Built 2020
SOLD 09/09/20
Price

Price Per SQFT

$317,179

$155.86

2510 Cowbird Way Northlake, TX 1

3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 2020
Rent

Rent Per SQFT

$2,200

$1.13
109 Cole Court Northlake, TX 2

3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
LEASED 12/08/20
Rent

Rent Per SQFT

$2,295

$1.13
1716 Sparrow Street Northlake, TX 3

3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2016
LEASED 08/13/20
Rent

Rent Per SQFT

$2,400

$1.11
1820 Lark Lane Argyle, TX 4

3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,192 Sqft ∙ Built 2017
LEASED 09/10/20
Rent

Rent Per SQFT

$2,500

$1.14
2524 Little Wonders Lane Northlake, TX 5

3 beds 3 baths ∙ 2,189 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,189 Sqft ∙ Built 2020
LEASED 12/03/20
Rent

Rent Per SQFT

$2,550

$1.16

PROPERTY LISTING DETAILS

Lee Jones
Toby Jones

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491138
Last Updated: 12/28/2020

2510 Cowbird Way Northlake, TX 76247

$338,800

$2,200

$91,782

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Justin Elementary School

Gene Pike Middle School

Northwest High School

FINANCIALS

$304,920$372,68000$338,800

$1,980$2,42000$2,200

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$338,800

$2,200

0.65%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,250

2

$5,474

$338,800

$174.55

$298,021

$153.54

COMPS RANGE

PRICE COMPS ANALYSIS

$2,200

$1.13

$2,203

$1.14

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS