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258 Haywood Circle Lancaster, TX 75146

3 Beds 3 Baths 2,132 sqft Built 2016

$227,500

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $106.71
  • 6 Days on Market
  • MLS # : 14462536
  • Updated Date : 11/02/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,132 sqft
  • Baths : 2 full , 1 half
Listing Agent

Your Home Free Llc

Listing Agent's Description

Gorgeous 2-story in the Tribute at Mills Branch with beautiful brick elevation! Inside you will find 3 bedrooms, 2.5 baths, upstairs game room, and 2-car garage! Upgrades and amenities throughout include vaulted ceilings, neutral paint tones, cozy family room fireplace, ceramic wet areas, plush carpeting, and MORE! Gourmet kitchen boasts an abundance of cabinetry and counter space, SS appliances, electric range, and spacious dining area. Private master suite features a luxurious bath with his and hers sinks, garden tub with separate shower, and generously-sized walk-in closet. Backyard with open patio and large balcony make entertaining a breeze!

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: Tribute at Mills Branch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $89k243k

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

Neighborhood: Tribute at Mills Branch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Rosa Parks-millbrook Elementary Primary Regular 559 31 6
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Rosa Parks-millbrook Elementary

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 31
6
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$204,750$250,250$227,500

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$839
Property Tax -$579
Property Insurance -$150
HOA -$31
Property Management Fees -$99
CASH FLOW
-$29

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.

$227,500

PROJECTED PRICE

$1,670

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.3%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,038

INVESTMENT

$66,038

Down Payment
$56,875
Rehab Estimate
$5,750
Closing Costs
$3,413

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$839

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,875
Loan Amount $170,625
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,6953$1,8004$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 258 Haywood Circle Lancaster, TX 1
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.78
    •  
  • 1910 Parkside Lane Lancaster, TX 2
    • 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,314 Sqft ∙ Built 2005
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.73
    •  
  • 1822 Cross Oaks Drive Lancaster, TX 3
    • 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2019
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 1834 Jasmine Drive Lancaster, TX 4
    • 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2019
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 1850 Jasmine Drive Lancaster, TX 5
    • 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,183 Sqft ∙ Built 2020
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
William T. Nelson
Your Home Free Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462536
Last Updated: 11/02/2020
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