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2605 Hidden Springs Drive Mesquite, TX 75181

3 Beds 2 Baths 1,475 sqft Built 1995

$226,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $153.83
  • 2 Days on Market
  • MLS # : 14488865
  • Updated Date : 12/19/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,475 sqft
  • Baths : 2 full
Listing Agent

Fdez Realty

Listing Agent's Description

Completely remodeled with new laminate wood floor, new paint, bathrooms have been remodeled along with the kitchen. New appliances. Your client will not be disappointed with this one.

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Thompson Elementary School Primary Regular 569 34 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Thompson Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 34
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$204,210$249,590$226,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$837
Property Tax -$550
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
$51

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.

$226,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$65,879

INVESTMENT

$65,879

Down Payment
$56,725
Rehab Estimate
$5,750
Closing Costs
$3,404

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$837

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,725
Loan Amount $170,175
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6003$1,6504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2605 Hidden Springs Drive Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 2508 Bent Brook Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1993
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.05
    •  
  • 2713 Clearwater Drive Mesquite, TX 2
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1992
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 2840 Helen Lane Mesquite, TX 3
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 1994
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 3517 Orchard Drive Mesquite, TX 4
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 2012
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sandra Reyna
Fdez Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488865
Last Updated: 12/19/2020
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