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2921 Shoreline Drive Burleson, TX 76028

4 Beds 3 Baths 3,557 sqft Built 2005

$384,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $108.21
  • 3 Days on Market
  • MLS # : 14500324
  • Updated Date : 01/15/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,557 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berry Realty Group, Llc

Listing Agent's Description

Lake Front Living!! Are you looking for your own hidden oasis with convenient access to town? You have arrived! This beautiful home offers 4 bedroom, 2.1 bathroom home. Grand patio overlooking view of the lake . Spacious living areas, open kitchen with granite counter tops, media room with top of the line projector, built in surround sound, and Game room. Great for entertaining or just relaxing in your hot tub. This home won't last, schedule an appointment today. Welcome to your dream home!!!

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

Neighborhood: Mountain Valley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Neighborhood: Mountain Valley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261900

* 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
North Joshua Elementary School Primary Regular 581 38 9
North Joshua Elementary School Middle Regular 581 38 9
Joshua Ninth Grade Campus High Regular 391 29 7

North Joshua Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

North Joshua Elementary School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$346,410$423,390$384,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,337
Property Tax -$923
Property Insurance -$233
HOA -$35
Property Management Fees -$99
CASH FLOW
-$326

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$384,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$107,749

INVESTMENT

$107,749

Down Payment
$96,225
Rehab Estimate
$5,750
Closing Costs
$5,774

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,225
Loan Amount $288,675
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$936

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,099

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,300
$2,300
RENT COMPS ANALYSIS
  • 2921 Shoreline Drive Burleson, TX 2
    • 4 beds 3 baths ∙ 3,557 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,557 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.65
    •  
  • 2517 Buffalo Run Burleson, TX 1
    • 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2004
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.59
    •  
PROPERTY LISTING DETAILS
Lisa Edwards
Berry Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500324
Last Updated: 01/15/2021
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