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2720 Picasso Place Dallas, TX 75287

3 Beds 2 Baths 2,404 sqft Built 1985

$315,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $131.03
  • 4 Days on Market
  • MLS # : 14468201
  • Updated Date : 11/12/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,404 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful, warm & inviting home nestled on a quiet cul-de-sac is located in the Carrollton ISD. Fresh paint and carpet throughout the home. Nice size living room has classic wood paneling, vaulted ceiling, custom built-ins, a fabulous-dramatic brick wood-burning fireplace, and lots of windows. Light, bright & airy kitchen has high ceilings with wood beam accent, an island, plenty of cabinet & prep space. Spacious bedrooms are all located upstairs and the master bedroom features a jetted garden tub, separate shower and a wonderful sitting area and access to the cozy 2nd floor covered balcony-deck. Don't miss this unique, warm & inviting gem!

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Sheffield Elementary School Primary Regular NA
Dan F. Long Middle School Middle Regular 718 51 4
Newman Smith High School High Regular 1,973 126 6

Sheffield Elementary School

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

Dan F. Long Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 51
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,162
Property Tax -$623
Property Insurance -$166
Property Management Fees -$99
CASH FLOW
-$10

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.

$315,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$16,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,416

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,2503$2,3004$2,4005$2,400
$2,400
RENT COMPS ANALYSIS
  • 2720 Picasso Place Dallas, TX 1
    • 3 beds 2 baths ∙ 2,404 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,404 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.85
    •  
  • 3448 Lark Meadow Way Dallas, TX 2
    • 3 beds 3 baths ∙ 2,349 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,349 Sqft ∙ Built 1993
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 3616 Sam Rayburn Trail Dallas, TX 3
    • 3 beds 2 baths ∙ 2,293 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,293 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 2517 Glen Morris Road Carrollton, TX 4
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1992
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.04
    •  
  • 3744 Rodale Way Dallas, TX 5
    • 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1998
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
PROPERTY LISTING DETAILS
Christy Mullins
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468201
Last Updated: 11/12/2020
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