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2529 Castle Pines Drive Burleson, TX 76028

3 Beds 2 Baths 1,553 sqft Built 2007

$239,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $154.48
  • 3 Days on Market
  • MLS # : 14527238
  • Updated Date : 03/06/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,553 sqft
  • Baths : 2 full
Listing Agent

Texas Best Properties

Listing Agent's Description

Meticulously maintained 3 bedroom home in Joshua ISD. Beautiful covered porch as you enter. Wood flooring and tile throughout in neutral tones. Gorgeous granite countertops in kitchen that overlooks the living and dining area. Spacious master bedroom with separate tub and shower in master bath. Upgrades include sprinkler system, solar screens, art niches and stainless steel appliances in kitchen. The covered back patio is the perfect place to relax with a cup of coffee or to entertain guests. Storage shed provides additional storage. Storage cabinets and closets in garage will convey.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mountain Valley Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $111k258k

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

Neighborhood: Mountain Valley Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Joshua Ninth Grade Campus High Regular 391 29 7
Joshua High School High Regular 995 75 5

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating

Joshua High School

  • Education Level: High
  • # of students: 995
  • # of teachers: 75
5
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$833
Property Tax -$575
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
-$284

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.

$239,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$88

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,351

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,4953$1,4954$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 2529 Castle Pines Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.86
    •  
  • 2620 Castle Pines Drive Burleson, TX 2
    • 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 2006
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 208 Arrowhead Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 2007
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 1006 Thistle Meade Circle Burleson, TX 4
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 219 Arrowhead Drive Burleson, TX 5
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
PROPERTY LISTING DETAILS
Wendy Maier
Texas Best Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527238
Last Updated: 03/06/2021
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