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

2518 Meadow Lake Drive Abilene, TX 79606

4 Beds 2 Baths 2,637 sqft Built 1982

$285,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $108.08
  • 2 Days on Market
  • MLS # : 14481230
  • Updated Date : 12/05/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,637 sqft
  • Baths : 2 full
Listing Agent

Arnold-realtors

Listing Agent's Description

This property in the Woodlake Subdivision has plenty of space for a growing family. This 4 bedroom, 2 bath home has all you need! Both living areas are perfect for providing entertainment for family and friends. This property has an open concept kitchen, huge master bedroom, spacious bedrooms, perfect size dining, and a breakfast bar for bar stools to make a second eating area. The backyard has a large covered patio with great space to play and entertain. You have an easy driving distance to shopping and restaurants as well. This quiet neighborhood and street will be a wonderful spot for you to move to! Dont let this one get away! Schedule a private showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $78k236k

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

Neighborhood: Chimney Rock Area

NeighborhoodNIR Market*CityMarket2015Year20112019 Q285090095010001050110011501200125013001350140014501500Rent in $8341531

* 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
Ward Elementary School Primary Regular 550 31 6
Madison Middle School Middle Regular 900 62 4
Cooper High School High Regular 1,806 135 4

Ward Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 31
6
GreatSchools Rating

Madison Middle School

  • Education Level: Middle
  • # of students: 900
  • # of teachers: 62
4
GreatSchools Rating

Cooper High School

  • Education Level: High
  • # of students: 1,806
  • # of teachers: 135
4
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,052
Property Tax -$614
Property Insurance -$178
Property Management Fees -$99
CASH FLOW
$208

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,679

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,136

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 2518 Meadow Lake Drive Abilene, TX 5
    • 4 beds 2 baths ∙ 2,637 Sqft ∙ Built 1982 4 beds 2 baths ∙ 2,637 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.82
    •  
  • 44 Hoylake Drive Abilene, TX 1
    • 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,460 Sqft ∙ Built 1992
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 3242 Woodhollow Circle Abilene, TX 2
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1981
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.79
    •  
  • 47 Tamarisk Circle Abilene, TX 3
    • 3 beds 4 baths ∙ 2,499 Sqft ∙ Built 1980 3 beds 4 baths ∙ 2,499 Sqft ∙ Built 1980
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
  • 2526 Woodlake Drive Abilene, TX 4
    • 3 beds 2 baths ∙ 2,399 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,399 Sqft ∙ Built 1985
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Nancy Brown
Arnold-realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481230
Last Updated: 12/05/2020
BESbswy