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260 S Walnut Grove Road Midlothian, TX 76065

3 Beds 2 Baths 2,040 sqft Built 1981

$419,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $205.83
  • 3 Days on Market
  • MLS # : 14455337
  • Updated Date : 11/13/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,040 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

You just have to come check out this beauty! Just completed remodel features new roof, new flooring, new paint, new appliances and much more! Located on a large corner lot, close to entertainment, shopping and easy access to highways for the daily commute. The main home and detached mother in law suite are both updated and move in ready. Main home offers a split floor plan, large family room, nice big pantry, and nice sized kitchen perfect for cooking for the upcoming holidays! The 30x36 detached garage-workshop is the perfect place for extra parking or projects and the back yard is HUGE, plenty of room to put in a pool!

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: Oak Hollow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $122k290k

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

Neighborhood: Oak Hollow Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262063

* 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
Longbranch Elementary School Primary Regular 705 42 7
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Longbranch Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 42
7
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,549
Property Tax -$916
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$710

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.

$419,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$4

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,081

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8903$2,0004$2,100
$2,100
RENT COMPS ANALYSIS
  • 260 S Walnut Grove Road Midlothian, TX 3
    • 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 1118 Pheasant Drive Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 2001
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.98
    •  
  • 4220 Fm 1387 Midlothian, TX 2
    • 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,933 Sqft ∙ Built 1978
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.98
    •  
  • 1141 Pheasant Drive Midlothian, TX 4
    • 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,911 Sqft ∙ Built 2001
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.10
    •  
PROPERTY LISTING DETAILS
Kimberly Rumfield
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455337
Last Updated: 11/13/2020
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