Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

282 Shari Drive Midlothian, TX 76065

4 Beds 3 Baths 2,595 sqft Built 2021

$358,730

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $138.24
  • 4 Days on Market
  • MLS # : 14499604
  • Updated Date : 01/14/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,595 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

BEAUTIFUL 2 STORY VERY VERSATILE FLOOR PLAN BUILT BY D.R. HORTON-AMERICA'S BUILDER in MIDLOTHIAN!~NEW PHASE in COVENTRY CROSSING!~COMMUNITY POOL,PLAYGROUND & WALKING TRAILS!~The Bayberry floorplan (Elev B)*Est Spring Completion*Lrg Chef's Kitchen with Breakfast Bar,Granite Countertops,SS Built-in Appliances,Smooth Cook Top,42 inch upper cabinets & W-I Pantry*Primary Bedroom down,over sized shower,dual Sink vanity & W-I Closet*3 Secondary Bedrooms upstairs with Full Bath & Gameroom *Designers pkg incl Ceramic Tiled Entry,Hallways & Wet areas*Home is Connected Smart Home Technology,covered back Patio,Landscape package,Sprinkler system & more!*Great location with close proximity to HWY 287 & 360, Shops & Dining!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mt. Peak Elementary School Primary Regular 706 43 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Mt. Peak Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
6
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
 

$322,857$394,603$358,730

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,246
Property Tax -$783
Property Insurance -$177
HOA -$54
Property Management Fees -$99
CASH FLOW
$191

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$358,730

PROJECTED PRICE

$2,550

PROJECTED RENT

0.71%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$97,063

INVESTMENT

$97,063

Down Payment
$89,683
Rehab Estimate
$2,000
Closing Costs
$5,381

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,246

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,683
Loan Amount $269,048
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$32,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,537

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4503$2,5004$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 282 Shari Drive Midlothian, TX 5
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
  • 5422 Leander Way Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.00
    •  
  • 5621 Leander Way Midlothian, TX 2
    • 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2006
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
  • 405 Calvert Drive Midlothian, TX 3
    • 4 beds 4 baths ∙ 2,499 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,499 Sqft ∙ Built 2017
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 5213 Leander Way Midlothian, TX 4
    • 3 beds 2 baths ∙ 2,695 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,695 Sqft ∙ Built 2007
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499604
Last Updated: 01/14/2021
BESbswy