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2567 Saint Luke Lane Dallas, TX 75237

3 Beds 2 Baths 1,724 sqft Built 2002

$210,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $121.81
  • 3 Days on Market
  • MLS # : 14514016
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,724 sqft
  • Baths : 2 full
Listing Agent

Alicia Trevino International

Listing Agent's Description

Move in ready three bedroom, two bathroom home. House features 2 spacious living areas, tall ceiling, open kitchen. Guest walk in shower recently updated. Close to restaurants, shops and highway!

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: Unity Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Unity Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Birdie Alexander Elementary School Primary Regular 407 29 4
William Hawley Atwell Law Academy Middle Magnet 834 68 2
David W. Carter High School High Regular 1,040 64 2

Birdie Alexander Elementary School

  • Education Level: Primary
  • # of students: 407
  • # of teachers: 29
4
GreatSchools Rating

William Hawley Atwell Law Academy

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 68
2
GreatSchools Rating

David W. Carter High School

  • Education Level: High
  • # of students: 1,040
  • # of teachers: 64
2
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$729
Property Tax -$498
Property Insurance -$127
HOA -$14
Property Management Fees -$99
CASH FLOW
$63

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.

$210,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 15.2%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$12,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5303$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2567 Saint Luke Lane Dallas, TX 2
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.89
    •  
  • 2551 Concordant Trail Dallas, TX 1
    • 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2002
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 7948 Harmony Creek Road Dallas, TX 3
    • 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,716 Sqft ∙ Built 2002
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 3326 Choir Street Dallas, TX 4
    • 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,877 Sqft ∙ Built 2004
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 3331 Choir Street Dallas, TX 5
    • 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Karina Sanchez
Alicia Trevino International
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514016
Last Updated: 02/05/2021
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