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2519 Meadow Ridge Drive Mesquite, TX 75150

3 Beds 3 Baths 1,898 sqft Built 1990

$245,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $129.08
  • 2 Days on Market
  • MLS # : 14496859
  • Updated Date : 01/09/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,898 sqft
  • Baths : 3 full
Listing Agent

Tim Jackson Realty Llc

Listing Agent's Description

Welcome Home! This home is equipped with 3 bedrooms, 2 bathrooms, 1 living area, 2 dining areas, and a sizable backyard situated on a corner lot! With just under 1900 square ft, you will have plenty of space to entertain a full house! Minutes away from shopping and close to three major highways, you will have quick access to get around town in a timely fashion! Homes like this DONT LAST LONG! Make us an offer that we can't refuse!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)

PRICE & RENT TRENDS

Neighborhood: Country Brook

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Country Brook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9701840

* 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
Austin Elementary School Primary Regular 474 29 4
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Austin Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 29
4
GreatSchools Rating

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$851
Property Tax -$580
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$143

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.

$245,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.7%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$21,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,789

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7454$1,7955$1,810
$1,810
RENT COMPS ANALYSIS
  • 2519 Meadow Ridge Drive Mesquite, TX 5
    • 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,898 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.95
    •  
  • 2511 Meadow Ridge Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1990
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 714 Harvester Lane Mesquite, TX 2
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1985
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 513 Quail Hollow Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1982
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.95
    •  
  • 404 Quail Hollow Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1983
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
PROPERTY LISTING DETAILS
Timothy Jackson
Tim Jackson Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496859
Last Updated: 01/09/2021
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