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3013 Timber Ridge Lane Mesquite, TX 75181

4 Beds 3 Baths 3,072 sqft Built 2006

$305,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $99.28
  • 6 Days on Market
  • MLS # : 14518884
  • Updated Date : 02/16/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,072 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vibrant Real Estate

Listing Agent's Description

Situated in a Pecan Creek gorgeous home features an abundance of space for a growing family. The open floor plan gives you plenty of room for your guests to feel at home four bedrooms and a study can be used as an extra bedroom too. Two dining areas and two living areas downstairs, The game room upstairs is awesome for all your game-watching or just to hang out. The backyard with cover patio is ready for a new family to make it their own. HAVC Unit installed October 2020, Roof replace August 2019. Appliances will be replaced with new Stainless steel Appliances before closing

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: Pecan Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Pecan Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9701953

* 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
Thompson Elementary School Primary Regular 569 34 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Thompson Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 34
4
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,059
Property Tax -$740
Property Insurance -$205
HOA -$15
Property Management Fees -$99
CASH FLOW
$143

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.

$305,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$23,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,427

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2453$2,2604$2,500
$2,500
RENT COMPS ANALYSIS
  • 3013 Timber Ridge Lane Mesquite, TX 3
    • 4 beds 3 baths ∙ 3,072 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,072 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.74
    •  
  • 3608 Carriage Avenue Mesquite, TX 1
    • 5 beds 3 baths ∙ 2,754 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,754 Sqft ∙ Built 2006
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 4613 Monarch Drive Mesquite, TX 2
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2003
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.77
    •  
  • 1808 Willow Creek Mesquite, TX 4
    • 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 1994 5 beds 4 baths ∙ 2,982 Sqft ∙ Built 1994
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Karla Valadez
Vibrant Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518884
Last Updated: 02/16/2021
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