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3109 Shoreline Drive Burleson, TX 76028

4 Beds 3 Baths 3,525 sqft Built 2008

$360,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $102.13
  • 2 Days on Market
  • MLS # : 14504203
  • Updated Date : 01/23/2021 at 07:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,525 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful 4 bedrooms, 2.5 baths home in Mountain Valley Lake. Open plan filled with natural light, soaring ceilings, and a stone fireplace. Kitchen opens to the family room perfect for entertaining family and friends. Equipped with smooth top electric range, breakfast bar with space for additional seating, and ample cabinetry for storage. Spacious first-floor primary en suite with dual vanities, garden tub, separate shower, and walk-in closet. Upstairs loft space perfect for a game room plus a media room! Large backyard with stone patio and firepit. Great neighborhood with access to the community junior Olympic pool, playground, basketball courts, and lake. A Must See!

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: Mountain Valley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Neighborhood: Mountain Valley Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261900

* 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
North Joshua Elementary School Primary Regular 581 38 9
North Joshua Elementary School Middle Regular 581 38 9
Joshua Ninth Grade Campus High Regular 391 29 7

North Joshua Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

North Joshua Elementary School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$324,000$396,000$360,000

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 -$1,250
Property Tax -$863
Property Insurance -$231
HOA -$38
Property Management Fees -$99
CASH FLOW
-$221

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.

$360,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,590

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
  • $0.64

    LIST RENT PER SQFT
  • $2,080

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,260
$2,260
RENT COMPS ANALYSIS
  • 3109 Shoreline Drive Burleson, TX 2
    • 4 beds 3 baths ∙ 3,525 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,525 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.64
    •  
  • 2517 Buffalo Run Burleson, TX 1
    • 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2004
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.59
    •  
PROPERTY LISTING DETAILS
Nancy Granby
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504203
Last Updated: 01/23/2021
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