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2633 Lola Court Shreveport, LA 71118

4 Beds 2 Baths 1,466 sqft Built 1980

$129,900

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $88.61
  • 2 Days on Market
  • MLS # : 277821NL
  • Updated Date : 03/19/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,466 sqft
  • Baths : 1 full , 1 half
Listing Agent

Primeaux Realty, Llc

Listing Agent's Description

Great well kept starter home located in Southern hills. Stones throw to Mansfield Rd Shopping dining, Hwy 3132, I-20/220. Home has neutral colors throughout. Living room in front of the home and large den with fireplace in the back of the home. Exterior includes privacy fenced in yard, shed, metal roof and one car carport. Home is tucked away in secluded cul-de-sac with virtually no through traffic. Great starter home and/or investment property. Home has been rented out for the past 5 years to the same family for $1,100 per month (.75 cents per Square Foot). Should rent for closer to $1,250 (.85 cents per Square Foot) which should leave plenty of room for profit potential.

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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: Hyde Park-Brookwood-Southern Hills

NeighborhoodNIR Market*CityMarket2010Year2004 Q3201975k80k85k90k95k100k105k110k115k120k125k130k135kPrice in $73k135k

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

Neighborhood: Hyde Park-Brookwood-Southern Hills

NeighborhoodNIR Market*CityMarket2015Year2009 Q32019 Q28509009501000105011001150Rent in $8481175

* 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
Claiborne Fundamental Elementary School Primary Magnet 401 26 10
Caddo Middle Magnet Middle Magnet 1,281 65 10
Caddo Parish Magnet High School High Magnet 1,122 69 9

Claiborne Fundamental Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 26
10
GreatSchools Rating

Caddo Middle Magnet

  • Education Level: Middle
  • # of students: 1,281
  • # of teachers: 65
10
GreatSchools Rating

Caddo Parish Magnet High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 69
9
GreatSchools Rating
 

$116,910$142,890$129,900

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$451
Property Tax -$166
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
$289

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$129,900

PROJECTED PRICE

$1,060

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 1.87%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.23%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,174

INVESTMENT

$40,174

Down Payment
$32,475
Rehab Estimate
$5,750
Closing Costs
$1,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$451

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $32,475
Loan Amount $97,425
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$26,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,121

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,060
1$1,0602$1,1003$1,275
$1,275
RENT COMPS ANALYSIS
  • 2633 Lola Court Shreveport, LA 1
    • 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,466 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.72
    •  
  • 2601 Lola Lane Shreveport, LA 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1965
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.73
    •  
  • 9425 Shartel Drive Shreveport, LA 3
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1970
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.80
    •  
PROPERTY LISTING DETAILS
James Stewart
Primeaux Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 277821NL
Last Updated: 03/19/2021
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