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3116 Clearmeadow Drive Mesquite, TX 75181

4 Beds 2 Baths 2,282 sqft Built 1997

$259,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $113.89
  • 3 Days on Market
  • MLS # : 14461181
  • Updated Date : 11/01/2020 at 15:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,282 sqft
  • Baths : 2 full
Listing Agent

Alicia Trevino International

Listing Agent's Description

Gorgeous custom home very well kept in the desirable area of Creek Crossing Estates. This home offers everything you need for your family. Many upgrades include master bathroom with brand new shower, engineer wood floors, gutters, sprinkler system. Open concept great for entertainment, cover patio, 2 garage and 2 carports. Lots of space for parking. Corner lot and beautiful landscaping. Move in ready. refrigerator, washer and dryer will stay. Shower door will be install before closing

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: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Pirrung Elementary School Primary Regular 473 30 4
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Pirrung Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 30
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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$959
Property Tax -$630
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
-$27

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.

$259,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,820

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8203$1,8954$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 3116 Clearmeadow Drive Mesquite, TX 2
    • 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,282 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.80
    •  
  • 2225 Austin Drive Mesquite, TX 1
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1992
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 1509 Creek Valley Road Mesquite, TX 3
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1987
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.81
    •  
  • 3104 Caribou Court Mesquite, TX 4
    • 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,436 Sqft ∙ Built 1998
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 1325 Williams Creek Mesquite, TX 5
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1996
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
PROPERTY LISTING DETAILS
Dana Gensollen
Alicia Trevino International
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461181
Last Updated: 11/01/2020
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