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303 Westover Euless, TX 76039

3 Beds 2 Baths 1,703 sqft Built 1984

INVESTimate

$310,000

List Price

$1,860

$1,674 - $2,046

Rent Est.

$337,063  ( +8.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $182.03
  • 8 Days on Market
  • MLS # : 14404559
  • Updated Date : 08/20/2020 at 09:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,703 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Completely updated three bedroom two bath home, new HVAC new kitchen appliances, new flooring, and fresh paint, along with sparkling pool in GCISD. The kitchen has granite, SS appliances with plenty of cabinets. Backyard is low maintenance with a recent resurfaced pool. Location is prime close to shopping, airport, dining, and hospitals. Lovely neighborhood close to parks and walking trials.

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: Sagepoint

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Sagepoint

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9932171

* 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
Bear Creek Elementary School Primary Regular 765 49 7
Heritage Middle School Middle Regular 922 51 9
Heritage Middle School High Regular 922 51 9

Bear Creek Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 49
7
GreatSchools Rating

Heritage Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 51
9
GreatSchools Rating

Heritage Middle School

  • Education Level: High
  • # of students: 922
  • # of teachers: 51
9
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,144
Property Tax -$602
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$110

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.

$310,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.73%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,8604$1,8755$1,895
$1,895
RENT COMPS ANALYSIS
  • 303 Westover Euless, TX 3
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.09
    •  
  • 202 Mint Lane Euless, TX 1
    • 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,586 Sqft ∙ Built 1983
    property image
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 201 Mint Lane Euless, TX 2
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1983
    property image
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.17
    •  
  • 2606 Sprucewood Lane Euless, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1983
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.10
    •  
  • 2412 Lantana Drive Euless, TX 5
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1996
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.06
    •  
PROPERTY LISTING DETAILS
Veronica Baughman
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14404559
Last Updated: 08/20/2020
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