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3201 Wren Lane Midlothian, TX 76065

4 Beds 2 Baths 1,522 sqft Built 2005

$245,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2005
  • Price/Sqft : $160.97
  • 9 Days on Market
  • MLS # : 14460551
  • Updated Date : 10/26/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,522 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Midlothian one-story cul-de-sac home offers a fireplace and a two-car garage. This home is vacant and cleaned regularly.

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: Mockingbird Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $106k275k

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

Neighborhood: Mockingbird Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9852063

* 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
T.e. Baxter Elementary School Primary Regular 611 41 6
Walnut Grove Middle School Middle Regular 1,014 55 8
Midlothian High School High Regular 2,390 141 6

T.e. Baxter Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 41
6
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$904
Property Tax -$535
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
-$113

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.

$245,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,640

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5403$1,7504$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3201 Wren Lane Midlothian, TX 2
    • 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.01
    •  
  • 3226 Morning Dove Lane Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 2002
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.02
    •  
  • 139 Clinton Lane Midlothian, TX 3
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1998
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 1142 Robin Circle Midlothian, TX 4
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2001
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.12
    •  
  • 37 Atlantic Avenue Midlothian, TX 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1996
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.11
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460551
Last Updated: 10/26/2020
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