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315 W Thomas Street Leonard, TX 75452

3 Beds 2 Baths 1,386 sqft Built 2016

$250,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $180.38
  • 3 Days on Market
  • MLS # : 14468372
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,386 sqft
  • Baths : 2 full
Listing Agent

Wainwright Real Estate

Listing Agent's Description

This beautiful three year old home located on a corner lot (140x100) is ideal. Enjoy the stained concrete floors, hickory wood kitchen cabinets, large wood deck and more. Hardie board siding and brick exterior provides beautiful entry to a home perfect for entertaining. Trees surround the property and eight foot privacy fence (with double door gate) surrounds the spacious backyard. Beautiful landscaping, ideal location and very desirable community will place this listing at the top of your viewing list.

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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

Zip Code: 75452

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180k190kPrice in $61k191k

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

Zip Code: 75452

No Data Available.

* 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
Leonard Elementary School Primary Regular 275 15 7
Leonard Junior High School Middle Regular 195 14 4
Leonard High School High Regular 285 24 6

Leonard Elementary School

  • Education Level: Primary
  • # of students: 275
  • # of teachers: 15
7
GreatSchools Rating

Leonard Junior High School

  • Education Level: Middle
  • # of students: 195
  • # of teachers: 14
4
GreatSchools Rating

Leonard High School

  • Education Level: High
  • # of students: 285
  • # of teachers: 24
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$922
Property Tax -$516
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$382

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.

$250,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,109

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,260
$1,260
RENT COMPS ANALYSIS
  • 315 W Thomas Street Leonard, TX 2
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.91
    •  
  • 109 S Pecan Street Leonard, TX 1
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2002
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.80
    •  
PROPERTY LISTING DETAILS
Laurin Wainwright
Wainwright Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468372
Last Updated: 12/11/2020
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