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2927 S Bend Drive Dallas, TX 75229

3 Beds 3 Baths 1,654 sqft Built 1987

$298,500

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $180.47
  • 5 Days on Market
  • MLS # : 14530310
  • Updated Date : 03/11/2021 at 07:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Wonderful open zero lot line home with vaulted ceilings, master down, with rear entry two car garage. Well maintained home with granite, recent HVAC, updated kitchen, recent carpet and much more. Nice backyard for the lock and enjoy all of the conveniences of a low maintenance home with easy access to downtown and North Dallas

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: Northtown Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $88k324k

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

Neighborhood: Northtown Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9451988

* 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
Herbert Marcus Elementary School Primary Regular 971 59 4
Thomas C. Marsh Middle School Middle Regular 1,084 69 2
W. T. White High School High Regular 2,290 134 4

Herbert Marcus Elementary School

  • Education Level: Primary
  • # of students: 971
  • # of teachers: 59
4
GreatSchools Rating

Thomas C. Marsh Middle School

  • Education Level: Middle
  • # of students: 1,084
  • # of teachers: 69
2
GreatSchools Rating

W. T. White High School

  • Education Level: High
  • # of students: 2,290
  • # of teachers: 134
4
GreatSchools Rating
 

$268,650$328,350$298,500

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,037
Property Tax -$708
Property Insurance -$123
HOA -$33
Property Management Fees -$99
CASH FLOW
-$80

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.

$298,500

PROJECTED PRICE

$1,920

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,853

INVESTMENT

$84,853

Down Payment
$74,625
Rehab Estimate
$5,750
Closing Costs
$4,478

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,037

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,625
Loan Amount $223,875
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8953$1,9204$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2927 S Bend Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,654 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.16
    •  
  • 2911 S Bend Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1988
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.18
    •  
  • 2824 Las Campanas Drive Farmers Branch, TX 2
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1969
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.15
    •  
  • 3105 Lockmoor Lane Dallas, TX 4
    • 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 1969
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.16
    •  
  • 3121 Lockmoor Dallas, TX 5
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1969
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.16
    •  
PROPERTY LISTING DETAILS
Michael Bates
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530310
Last Updated: 03/11/2021
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