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2604 Candleberry Drive Northlake, TX 76226

4 Beds 4 Baths 3,505 sqft Built 2021

$547,090

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $156.09
  • 5 Days on Market
  • MLS # : 14516794
  • Updated Date : 02/10/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,505 sqft
  • Baths : 3 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready April 2021! The Berkeley’s grand foyer impresses with a curved staircase and volume ceilings. The main level primary suite boasts double sinks and a walk-in closet. Upstairs, the game room sits opposite the large secondary bedrooms. Amenity center will include, dog park, grilling area, park, playgrounds, trails, swimming pools, outdoor recreation, kid's splash pad. Features access to I-35 making it easy to get to nearby metro areas. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$492,381$601,799$547,090

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$1,900
Property Tax -$1,088
Property Insurance -$230
HOA -$117
Property Management Fees -$99
CASH FLOW
-$253

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.

$547,090

PROJECTED PRICE

$3,180

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,979

INVESTMENT

$146,979

Down Payment
$136,773
Rehab Estimate
$2,000
Closing Costs
$8,206

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,773
Loan Amount $410,318
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,939

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,155

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8003$3,1804$3,2755$3,450
$3,450
RENT COMPS ANALYSIS
  • 2604 Candleberry Drive Northlake, TX 3
    • 4 beds 4 baths ∙ 3,505 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,505 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $0.91
    •  
  • 10901 Sandstone Drive Denton, TX 1
    • 3 beds 3 baths ∙ 3,698 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,698 Sqft ∙ Built 2006
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.76
    •  
  • 9701 Grandview Drive Denton, TX 2
    • 3 beds 3 baths ∙ 3,568 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,568 Sqft ∙ Built 2005
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
  • 224 Lilypad Bend Argyle, TX 4
    • 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,240 Sqft ∙ Built 2013
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $1.01
    •  
  • 1201 9th Street Argyle, TX 5
    • 4 beds 4 baths ∙ 3,284 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,284 Sqft ∙ Built 2017
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.05
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516794
Last Updated: 02/10/2021
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