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2925 Shoreline Drive Burleson, TX 76028

3 Beds 2 Baths 1,788 sqft Built 2007

$265,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $148.21
  • 1 Days on Market
  • MLS # : 14497743
  • Updated Date : 01/17/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,788 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Jc

Listing Agent's Description

One of the very few properties backing up to the main body of water of Mountain Valley Lake #2. Freshly painted interior walls, trim and doors. Low maintenance tile throughout the home. Split bedrooms. Open concept living, dining and kitchen with a breakfast bar. You will fall in love with the sunroom with lake and fountain views. Master located in the back of the home features wood look tile and views of the lake. Backyard features an open patio and pergola. Joshua ISD. Walking distance right down to the doc. ***Special financing available with ZERO lender fees.***

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: 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$920
Property Tax -$635
Property Insurance -$131
HOA -$35
Property Management Fees -$99
CASH FLOW
-$171

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.

$265,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.62%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,9004$1,9505$2,100
$2,100
RENT COMPS ANALYSIS
  • 2925 Shoreline Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 219 Arrowhead Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2004
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 537 Oakbrook Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2004
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 2836 Greenway Drive Burleson, TX 4
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2006
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 2525 Greenhaven Drive Burleson, TX 5
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2001
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
PROPERTY LISTING DETAILS
Nicole Skalsky
Keller Williams Realty Jc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497743
Last Updated: 01/17/2021
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