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279 Latham Lane New Fairview, TX 76078

3 Beds 2 Baths 1,568 sqft Built 1996

$169,900

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $108.35
  • 4 Days on Market
  • MLS # : 14466544
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

Listing Results, Llc

Listing Agent's Description

Must See!! Spectacular view on hillside on this completely remodeled 1 Acre 3 bedroom 2 bath. New features & upgrades in 2020 include: Interior-Exterior paint, recent 30 yr roof, Granite countertops in kitchen & vanities, laminate flooring, Stainless Steel appliances, plumbing fixtures, Skirting, lighting, tub & garden tub along with remodeled shower, Trane high efficient inside HVAC, all of this while you enjoy the view and relax on the 2 decks.

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

Zip Code: 76078

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k266k

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

Zip Code: 76078

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Decatur High School High Regular 897 59 5

Decatur High School

  • Education Level: High
  • # of students: 897
  • # of teachers: 59
5
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$627
Property Tax -$310
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$76

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.

$169,900

PROJECTED PRICE

$1,230

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$16,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,176

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,230
1$1,2302$1,350
$1,350
RENT COMPS ANALYSIS
  • 279 Latham Lane New Fairview, TX 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.78
    •  
  • 150 Morgan Place New Fairview, TX 2
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1997
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.75
    •  
PROPERTY LISTING DETAILS
Jack Mclemore
Listing Results, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466544
Last Updated: 11/05/2020
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