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2700 Clearmeadow Street Bedford, TX 76021

3 Beds 2 Baths 2,077 sqft Built 1981

INVESTimate

$343,000

List Price

$1,990

$1,791 - $2,189

Rent Est.

$371,400  ( +8.28%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $165.14
  • 1 Days on Market
  • MLS # : 14418506
  • Updated Date : 08/26/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,077 sqft
  • Baths : 2 full
Listing Agent

Baas Realty, Llc

Listing Agent's Description

UPDATED EXECUTIVE HOME ON CORNER LOT IN IDEAL LOCATION IN THE HEART OF BEDFORD. Home boasts gorgeous updates to both bathrooms & kitchen with wood floors, fresh paint and more. SPARKLING POOL with attached spa. Yard with mature trees and side garage entry, Eat-in kitchen has granite counter tops & SS appliances. Spacious rooms and ample storage. Ready to move in. Location features no shortage of shopping, restaurants, entertainment, parks, and recreation. Easy access to major highways.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bedford Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k284k

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

Neighborhood: Bedford Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9451983

* 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
Shady Brook Elementary School Primary Regular 620 34 6
Harwood Junior High School Middle Regular 998 57 8
Harwood Junior High School High Regular 998 57 8

Shady Brook Elementary School

  • Education Level: Primary
  • # of students: 620
  • # of teachers: 34
6
GreatSchools Rating

Harwood Junior High School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 57
8
GreatSchools Rating

Harwood Junior High School

  • Education Level: High
  • # of students: 998
  • # of teachers: 57
8
GreatSchools Rating
 

$308,700$377,300$343,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,266
Property Tax -$694
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
-$216

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.

$343,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.28%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,645

INVESTMENT

$96,645

Down Payment
$85,750
Rehab Estimate
$5,750
Closing Costs
$5,145

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,266

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,750
Loan Amount $257,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9904$2,0505$2,050
$2,050
RENT COMPS ANALYSIS
  • 2700 Clearmeadow Street Bedford, TX 3
    • 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,077 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.96
    •  
  • 1920 Lincolnshire Drive Bedford, TX 1
    • 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 1976
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 2513 Glenoaks Court Bedford, TX 2
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1982
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
  • 2708 Clearmeadow Street Bedford, TX 4
    • 3 beds 2 baths ∙ 2,123 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,123 Sqft ∙ Built 1983
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.97
    •  
  • 2008 Oakmeadow Street Bedford, TX 5
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 1981
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kim Hogue
Baas Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418506
Last Updated: 08/26/2020
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