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2524 Pennsylvania Avenue Dallas, TX 75215

3 Beds 2 Baths 1,415 sqft Built 2006

$169,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $119.43
  • 3 Days on Market
  • MLS # : 14499101
  • Updated Date : 01/15/2021 at 22:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 1 full , 1 half
Listing Agent

Tdrealty

Listing Agent's Description

Well kept gem in the heart of South Dallas. Enclosed carport to create a second living area on the first floor. ALL 3 Bedrooms are upstairs with one and a half bathrooms make this a great first time buyer home.

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: Bertrand

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $53k243k

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

Neighborhood: Bertrand

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6851734

* 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
Martin Luther King Jr. Learning Center Primary Regular 502 33 2
Billy Earl Dade Middle School Middle Regular 888 68 2
James Madison High School High Regular 464 42 2

Martin Luther King Jr. Learning Center

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 33
2
GreatSchools Rating

Billy Earl Dade Middle School

  • Education Level: Middle
  • # of students: 888
  • # of teachers: 68
2
GreatSchools Rating

James Madison High School

  • Education Level: High
  • # of students: 464
  • # of teachers: 42
2
GreatSchools Rating
 

$152,100$185,900$169,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$587
Property Tax -$427
Property Insurance -$95
Property Management Fees -$99
CASH FLOW
$142

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$169,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,535

INVESTMENT

$50,535

Down Payment
$42,250
Rehab Estimate
$5,750
Closing Costs
$2,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$587

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,250
Loan Amount $126,750
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$17,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,424

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3303$1,3354$1,3405$1,350
$1,350
RENT COMPS ANALYSIS
  • 2524 Pennsylvania Avenue Dallas, TX 5
    • 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,172 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.15
    •  
  • 3628 Colonial Dallas, TX 1
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.19
    •  
  • 3823 Colonial Dallas, TX 2
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.22
    •  
  • 2711 Burger Dallas, TX 3
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,335
    • $1.22
    •  
  • 3610 Atlanta Dallas, TX 4
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.23
    •  
PROPERTY LISTING DETAILS
Lanita Pierson
Tdrealty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499101
Last Updated: 01/15/2021
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