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2851 Saint Johns Avenue Lancaster, TX 75146

3 Beds 2 Baths 1,420 sqft Built 1997

$199,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $140.14
  • 8 Days on Market
  • MLS # : 14518708
  • Updated Date : 02/20/2021 at 10:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

SHOWINGS START MONDAY (2-15-2021) Great curb appeal and well-maintained home awaits your move in. Neutral colors and easy to maintain flooring in main living areas. Enjoy the fenced backyard with a covered patio and storage shed for your lawn maintenance equipment. 2 Car Garage and covered carport. Homes sell fast in this desired neighborhood so don't wait to view this home! Buyer and buyer's agent to verify all information including schools.

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: Moffitt Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Moffitt Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9061734

* 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
Rolling Hills Elementary School Primary Regular 621 35 5
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Rolling Hills Elementary School

  • Education Level: Primary
  • # of students: 621
  • # of teachers: 35
5
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$691
Property Tax -$506
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
-$36

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.

$199,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$5,269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,392

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4253$1,4494$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 2851 Saint Johns Avenue Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.96
    •  
  • 2824 Saint Martin Drive Lancaster, TX 2
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1998
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.99
    •  
  • 1606 E Springcrest Circle Lancaster, TX 3
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1983
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $1.01
    •  
  • 630 Atteberry Lane Lancaster, TX 4
    • 4 beds 3 baths ∙ 1,503 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,503 Sqft ∙ Built 1991
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 2209 Merrimac Lane Lancaster, TX 5
    • 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,615 Sqft ∙ Built 1986
    LEASED 12/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Richard Wallace
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518708
Last Updated: 02/20/2021
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