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2811 Jaes Court Midlothian, TX 76065

4 Beds 3 Baths 2,291 sqft Built 2003

$439,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $191.62
  • 2 Days on Market
  • MLS # : 14520711
  • Updated Date : 03/05/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,291 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

In a quiet subdivision at the end of a cul-de-sac, this beautiful home sits on a fully fenced 1.5 acre lot that borders open pasture. The home offers an open floor plan, 10’ ceilings, triple split bedrooms and beautiful millwork. Updates include luxury vinyl plank flooring and stone fireplace. Spacious primary bedroom has a cathedral ceiling and ensuite complete with garden tub, separate shower, dual sinks and two wic. Kitchen features a breakfast bar and plenty of counter space. Have fun entertaining in the huge backyard with covered patio, extended deck with retractable awning and beautiful pool with heated spa and waterfall. Outdoor storage is not a problem with two sheds as well as a chicken coop. No HOA.

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: Saddle Back Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Saddle Back Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262424

* 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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$395,100$482,900$439,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,525
Property Tax -$958
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$181

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.

$439,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,085

INVESTMENT

$122,085

Down Payment
$109,750
Rehab Estimate
$5,750
Closing Costs
$6,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,525

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,750
Loan Amount $329,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,344

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,5603$2,5954$2,600
$2,600
RENT COMPS ANALYSIS
  • 2811 Jaes Court Midlothian, TX 2
    • 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,291 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $1.12
    •  
  • 3620 Leigh Erin Street Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2000
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.00
    •  
  • 5621 Country South Lane Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.06
    •  
  • 3457 Brighton Drive Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Laura Bumgarner
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520711
Last Updated: 03/05/2021
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