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2608 Underwood Lane Euless, TX 76039

3 Beds 2 Baths 1,500 sqft Built 1982

$279,900

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $186.60
  • 4 Days on Market
  • MLS # : 14539488
  • Updated Date : 03/27/2021 at 17:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,500 sqft
  • Baths : 2 full
Listing Agent

C21 Preferred Properties

Listing Agent's Description

OPEN HOUSE ON SATURDAY AND SUNDAY FROM 2-4 PM. MULTIPLE OFFERS RECIEVED; HIGHEST AND BEST BY 3-29-2021 BY 10 AM This gorgeous updated home on a corner lot in the highly sought after Colleyville-Grapevine ISD. Too many new updates to list, but the main ones are, New Roof, AC unit, granite, kitchen backsplash with under mount hardwire lighting, ceramic title, carpet, exterior siting, Stained wooden fence with metal post. Easy access off the main highway, minutes from DFW Airport. Two Car garage with new garage door opener and garage door paneling. Fresh paint interior and exterior. Spacious laundry room with additional storage. New bathroom amenities. Nice elevated back yard for extended privacy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Sagepoint

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Sagepoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9932171

* 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
Bear Creek Elementary School Primary Regular 765 49 7
Colleyville Heritage High School High Regular 2,222 135 8
Colleyville Heritage High School High Unknown NA

Bear Creek Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 49
7
GreatSchools Rating

Colleyville Heritage High School

  • Education Level: High
  • # of students: 2,222
  • # of teachers: 135
8
GreatSchools Rating

Colleyville Heritage High School

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

$251,910$307,890$279,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$972
Property Tax -$543
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$149

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.

$279,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$3,976

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,748

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5003$1,5804$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2608 Underwood Lane Euless, TX 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.05
    •  
  • 3002 Clover Lane Euless, TX 1
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1982
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.13
    •  
  • 3005 Kathleen Lane Euless, TX 2
    • 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,305 Sqft ∙ Built 1983
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
  • 2602 Lawndale Lane Euless, TX 4
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1983
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.21
    •  
  • 2710 Scrimshire Court Euless, TX 5
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1989
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.17
    •  
PROPERTY LISTING DETAILS
Dale Warren
C21 Preferred Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539488
Last Updated: 03/27/2021
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