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304 Meadow Ridge Drive Burleson, TX 76028

4 Beds 3 Baths 2,457 sqft Built 2002

$260,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $105.82
  • 3 Days on Market
  • MLS # : 14513862
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,457 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Take a look at this spacious 4 bedroom, 2.1 bath, 2 story home. Open floor concept in the living with wood burning fireplace and vinyl plank flooring throughout the first floor. Breakfast area with large separate formal dining room. The kitchen features stained cabinets, breakfast bar, granite counter tops, pantry with additional pantry shelving in the utility. Spacious master with en-suite. The master bath features dual sinks, walk in closet and a large walk in shower with seat. 3 secondary rooms upstairs, all sized great with carpet and walk in closets along with a flex space or game room. Outside has a large covered patio, 8 ft privacy fence and storage building for all your lawn equipment.

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: Burleson Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $111k258k

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

Neighborhood: Burleson Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Judy Hajek Elementary School Primary Regular 547 35 6
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$903
Property Tax -$650
Property Insurance -$169
Property Management Fees -$99
CASH FLOW
$49

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.

$260,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.3%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$13,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,8704$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 304 Meadow Ridge Drive Burleson, TX 3
    • 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,457 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.76
    •  
  • 921 Redbud Road Burleson, TX 1
    • 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 324 Snapdragon Court Burleson, TX 2
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 308 Coral Vine Lane Burleson, TX 4
    • 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,642 Sqft ∙ Built 2014
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 700 Evergreen Court Burleson, TX 5
    • 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2007
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
PROPERTY LISTING DETAILS
Brannon Potts
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513862
Last Updated: 02/05/2021
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