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2612 Park Ridge Drive Cedar Hill, TX 75104

4 Beds 3 Baths 3,977 sqft Built 2021

$644,274

List Price

$3,500

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $162.00
  • 1 Days on Market
  • MLS # : 14528294
  • Updated Date : 03/07/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,977 sqft
  • Baths : 3 full
Listing Agent

Mersal Realty

Listing Agent's Description

This fabulous floorplan offers easy living w spacious rooms so your family can spread out & 4 bedrms w sought after 2ND BEDROOM ON 1ST FLOOR. Some of the many features are soaring ceilings w unique furrdowns ceilings, walls of windows for wonderful natural light, endless, giant DBL ovens & 2 tone shaker style cabinetry, large windows, gorgeous stone & stucco elevations. Still plenty of grass area make entertaining family & friends a breeze. Don't forget A+ lake ridge schools!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k426k

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

Neighborhood: Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10123299

* 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
Lake Ridge Elementary School Primary Regular 397 23 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 23
5
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$579,847$708,701$644,274

PURCHASE PRICE

$3,150$3,850$3,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,500
EXPENSES Loan Payment -$2,238
Property Tax -$1,465
Property Insurance -$257
HOA -$31
Property Management Fees -$99
CASH FLOW
-$590

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.

$644,274

PROJECTED PRICE

$3,500

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$172,733

INVESTMENT

$172,733

Down Payment
$161,069
Rehab Estimate
$2,000
Closing Costs
$9,664

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,238

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $161,069
Loan Amount $483,206
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,184

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,500

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,500

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,225
1$3,2252$3,4003$3,5004$4,300
$4,300
RENT COMPS ANALYSIS
  • 2612 Park Ridge Drive Cedar Hill, TX 3
    • 4 beds 3 baths ∙ 3,977 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,977 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.88
    •  
  • 2726 Fountain View Boulevard Cedar Hill, TX 1
    • 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 2010
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,225
    • $0.83
    •  
  • 2714 Point View Cedar Hill, TX 2
    • 4 beds 4 baths ∙ 4,208 Sqft ∙ Built 2006 4 beds 4 baths ∙ 4,208 Sqft ∙ Built 2006
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.81
    •  
  • 2125 Grand View Court Cedar Hill, TX 4
    • 4 beds 4 baths ∙ 4,280 Sqft ∙ Built 2005 4 beds 4 baths ∙ 4,280 Sqft ∙ Built 2005
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
Julian Cruz
Mersal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528294
Last Updated: 03/07/2021
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