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3136 Renaissance Drive Dallas, TX 75287

3 Beds 3 Baths 1,704 sqft Built 1991

$289,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $169.60
  • 8 Days on Market
  • MLS # : 14501866
  • Updated Date : 02/03/2021 at 10:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,704 sqft
  • Baths : 2 full , 1 half
Listing Agent

Global Realty

Listing Agent's Description

Beautifully updated and meticulously maintained home, walking distance to Elementary, Middle School! Most of updates done in late 2016, including solid bamboo wood floor in master bedroom, and all areas on second floor, updated bathrooms. The house was painted inside and out, solid red oak wood stairs, stainless steel appliances and 3CM granite counter tops in kitchen, granite island in kitchen dining area is movable. Newer lights and plumbing fixtures. Driveway redone in 2019, and much more! Have to view it!

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: Old Mill Court

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $88k319k

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

Neighborhood: Old Mill Court

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9471734

* 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
Sheffield Elementary School Primary Regular NA
Dan F. Long Middle School Middle Regular 718 51 4
Newman Smith High School High Regular 1,973 126 6

Sheffield Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Dan F. Long Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 51
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,004
Property Tax -$571
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$20

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.

$289,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,671

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7803$1,8954$1,9305$1,950
$1,950
RENT COMPS ANALYSIS
  • 3136 Renaissance Drive Dallas, TX 2
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.04
    •  
  • 2515 Kingsridge Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1983
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 2607 Seedling Lane Dallas, TX 3
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 3043 Renaissance Court Dallas, TX 4
    • 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.02
    •  
  • 3323 Renaissance Drive Dallas, TX 5
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1992
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.14
    •  
PROPERTY LISTING DETAILS
Ying Lu
Global Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501866
Last Updated: 02/03/2021
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