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2641 Bandera Place Mesquite, TX 75181

3 Beds 2 Baths 2,247 sqft Built 2004

$249,900

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $111.21
  • 4 Days on Market
  • MLS # : 14513158
  • Updated Date : 02/19/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,247 sqft
  • Baths : 2 full
Listing Agent

Epic National Realty, Llc

Listing Agent's Description

3 bedroom, 2 bath home in Mesquite ISD. Open floor plan with luxury vinyl flooring and tile throughout the common areas. Kitchen features lots of counter space and cabinet storage, and a large walk in pantry with washer and dryer area. Large yard, with enclosed patio that adds an additional 200 sq ft to the house.

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: Hills at Tealwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Hills at Tealwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9701805

* 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
Berry Middle School Middle Regular 910 55 5
John Horn High School High Regular 2,284 140 4
Berry Middle School Middle Unknown NA

Berry Middle School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 55
5
GreatSchools Rating

John Horn High School

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

Berry Middle School

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

$224,910$274,890$249,900

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$868
Property Tax -$606
Property Insurance -$157
HOA -$28
Property Management Fees -$99
CASH FLOW
-$48

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.

$249,900

PROJECTED PRICE

$1,710

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$6,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7103$1,7254$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 2641 Bandera Place Mesquite, TX 2
    • 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.76
    •  
  • 2817 Cameron Way Mesquite, TX 1
    • 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,988 Sqft ∙ Built 2006
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 1713 Colborne Drive Mesquite, TX 3
    • 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,258 Sqft ∙ Built 1988
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.76
    •  
  • 4212 Boxwood Drive Balch Springs, TX 4
    • 4 beds 2 baths ∙ 2,248 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,248 Sqft ∙ Built 2002
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 809 Cavern Drive Mesquite, TX 5
    • 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,179 Sqft ∙ Built 2003
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jason Couch
Epic National Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513158
Last Updated: 02/19/2021
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