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2541 Stella Lane Northlake, TX 76247

3 Beds 2 Baths 1,673 sqft Built 2020

$295,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $176.33
  • 4 Days on Market
  • MLS # : 14482893
  • Updated Date : 01/02/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Like NEW home in Pecan Square! Why buy new when you can own this GEM built in 2020! Gorgeous inside & out! Fantastic one-level layout with open floor plan. NEW paint in neutral gray tones! Great room that opens to dining room and kitchen with high ceilings and lots of windows! Very light & bright! Gourmet kitchen with HUGE island! Stainless steel appliances, quartz countertops, tons of cabinets! Beautiful wood like floors! Master retreat is wonderful with tall ceilings & spacious! Master bath has built in shelving, large shower, double sinks & more! New blinds! Large yard & covered patio! Energy efficiencies! Awesome location! Comm. pool, park, shopping, arena, co-working space and more! Enjoy it all!

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k396k

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

Zip Code: 76247

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10532370

* 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
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,088
Property Tax -$615
Property Insurance -$124
HOA -$220
Property Management Fees -$99
CASH FLOW
-$206

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.

$295,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.66%

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
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,175

INVESTMENT

$80,175

Down Payment
$73,750
Rehab Estimate
$2,000
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,324

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,1503$2,1954$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 2541 Stella Lane Northlake, TX 1
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $1.16
    •  
  • 1720 Cole Lane Northlake, TX 2
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2015
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.15
    •  
  • 517 Gannet Trail Northlake, TX 3
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2017
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.17
    •  
  • 720 Boardwalk Way Argyle, TX 4
    • 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,894 Sqft ∙ Built 2018
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.16
    •  
  • 1416 Westview Lane Northlake, TX 5
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 2015
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.16
    •  
PROPERTY LISTING DETAILS
Julie Bologna
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482893
Last Updated: 01/02/2021
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