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2803 Quail Run Drive Mesquite, TX 75149

4 Beds 3 Baths 3,323 sqft Built 2000

$299,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $89.98
  • 1 Days on Market
  • MLS # : 14531932
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,323 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Central

Listing Agent's Description

Are you looking for SPACE for the whole family? This is it! Located on a corner lot near schools, restaurants & shopping with NO HOA. Formal living & dining and half bath at the front of the home are perfect for entertaining. Second living has wood burning fireplace & wired for surround sound. Open kitchen has built-in microwave, electric range, walk-in pantry & add'l dining space in the breakfast room. Check out the size of the master suite! Yes, please! Sitting space, his & hers closets, garden tub & sep shower. Game room, three add'l oversized beds & full bath up. Oversized utility room has space for add'l fridge & can be used as second pantry. Backyard features patio with pergola to relax or entertain.

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: Idlewyld Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Idlewyld Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Frasier Middle School Middle Unknown NA
West Mesquite High School High Regular 1,935 129 3
West Mesquite High School High Unknown NA

Frasier Middle School

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

West Mesquite High School

  • Education Level: High
  • # of students: 1,935
  • # of teachers: 129
3
GreatSchools Rating

West Mesquite High School

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

$269,100$328,900$299,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,039
Property Tax -$725
Property Insurance -$219
Property Management Fees -$99
CASH FLOW
-$152

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.

$299,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,812

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,806

    COMP ESTIMATED VALUE
  • $0.54

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,9003$1,9304$1,975
$1,975
RENT COMPS ANALYSIS
  • 2803 Quail Run Drive Mesquite, TX 3
    • 4 beds 3 baths ∙ 3,323 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,323 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.58
    •  
  • 3611 Rio Blanco Drive Dallas, TX 1
    • 4 beds 3 baths ∙ 3,463 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,463 Sqft ∙ Built 2016
    property image
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.50
    •  
  • 215 Idlewyld Drive Mesquite, TX 2
    • 5 beds 3 baths ∙ 3,462 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,462 Sqft ∙ Built 2000
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.55
    •  
  • 2908 Robin Lane Mesquite, TX 4
    • 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2000
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.58
    •  
PROPERTY LISTING DETAILS
Amy Downs
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531932
Last Updated: 03/13/2021
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