Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3015 Lily Lane Heath, TX 75126

4 Beds 2 Baths 2,147 sqft Built 2018

$315,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $147.14
  • 2 Days on Market
  • MLS # : 14484919
  • Updated Date : 12/12/2020 at 12:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,147 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Like new, gently lived in and ready for you. Located in beautiful Lakeside at Heath, in RISD. As you walk in you will feel the warmth of the wood-look tile flooring and the picturesque stone fireplace. The open concept is enhanced by the large windows and natural light. In the kitchen, the dark hand-stained cabinets and light-colored Quartz countertops, and tile backsplash provide the perfect combination. The Master is secluded for additional privacy. The Master bath features the same hand-stained built-in-cabinets, separate tub & shower, dual sinks, and a 13x9 Master closet. The back covered patio and large 75 ft wide backyard are perfect for cooking and watching the kids play and even a pool. Merry Christmas!

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: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $122k538k

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

Neighborhood: Travis Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263246

* 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
Amy Parks-heath Elementary School Primary Regular 781 44 9
Amy Parks-heath Elementary School Middle Regular 781 44 9
Rockwall-heath High School High Regular 2,200 119 8

Amy Parks-heath Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Amy Parks-heath Elementary School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 44
9
GreatSchools Rating

Rockwall-heath High School

  • Education Level: High
  • # of students: 2,200
  • # of teachers: 119
8
GreatSchools Rating
 

$284,310$347,490$315,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,166
Property Tax -$776
Property Insurance -$151
HOA -$30
Property Management Fees -$99
CASH FLOW
-$162

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.

$315,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.3%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,464

INVESTMENT

$89,464

Down Payment
$78,975
Rehab Estimate
$5,750
Closing Costs
$4,739

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,166

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,975
Loan Amount $236,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,017

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,932

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$1,9504$2,0005$2,060
$2,060
RENT COMPS ANALYSIS
  • 3015 Lily Lane Heath, TX 5
    • 4 beds 2 baths ∙ 2,147 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,147 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.96
    •  
  • 1019 Rumley Road Forney, TX 1
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
  • 1213 Erika Lane Forney, TX 2
    • 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2017 4 beds 3 baths ∙ 1,995 Sqft ∙ Built 2017
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 2011 Childress Drive Forney, TX 3
    • 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,342 Sqft ∙ Built 2014
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 919 Johnson City Drive Forney, TX 4
    • 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 2009
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jerry Welch
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484919
Last Updated: 12/12/2020
BESbswy