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

2842 Bronco Drive Dallas, TX 75237

3 Beds 2 Baths 1,364 sqft Built 2004

INVESTimate

$177,000

List Price

$1,400

$1,260 - $1,540

Rent Est.

$203,833  ( +15.16%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $129.77
  • 3 Days on Market
  • MLS # : 14419610
  • Updated Date : 08/25/2020 at 09:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,364 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Multiple Offers! Highest and best by Aug. 27th at 10 A.M. Great single-story home with three bedrooms and two full bathrooms in the heart of Dallas! The open floor plan is great for entertaining family and friends. Prepare meals in the cheery kitchen with new 2020 stainless steel appliances and fresh paint throughout the home. Relax in the spacious family room featuring a fireplace and large windows that offers lots of natural light. Unwind in the spacious master suite featuring a large tub and built-in shelves in the closet. Spend time outdoors in the private backyard offering a patio. Lots of shopping and restaurants nearby. At this price it won't last.

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: Wisdom Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Wisdom Creek

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
Ronald E. Mcnair Elementary School Primary Regular 723 44 3
William Hawley Atwell Law Academy Middle Magnet 834 68 2
David W. Carter High School High Regular 1,040 64 2

Ronald E. Mcnair Elementary School

  • Education Level: Primary
  • # of students: 723
  • # of teachers: 44
3
GreatSchools Rating

William Hawley Atwell Law Academy

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 68
2
GreatSchools Rating

David W. Carter High School

  • Education Level: High
  • # of students: 1,040
  • # of teachers: 64
2
GreatSchools Rating
 

$159,300$194,700$177,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$653
Property Tax -$420
Property Insurance -$106
HOA -$21
Property Management Fees -$99
CASH FLOW
$101

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.

$177,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 15.16%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,655

INVESTMENT

$52,655

Down Payment
$44,250
Rehab Estimate
$5,750
Closing Costs
$2,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$653

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,250
Loan Amount $132,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$17,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,245

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,4504$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 2842 Bronco Drive Dallas, TX 2
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 7407 Pin Tail Court Dallas, TX 1
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1989
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
  • 3343 Choir Street Dallas, TX 3
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 2004
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 3027 Appaloosa Drive Dallas, TX 4
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 2013
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 2551 Concordant Trail Dallas, TX 5
    • 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,588 Sqft ∙ Built 2002
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lori Bailey
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419610
Last Updated: 08/25/2020
BESbswy