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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $139.67
- 2 Days on Market
- MLS # : 14505161
- Updated Date : 01/23/2021 at 19:00
CONSTRUCTION
- Beds : 5
- Floor Size : 3,716 sqft
- Baths : 3 full
Listing Agent
Keller Williams Central
Listing Agent's Description
Beautiful home in a great location! The amazing foyer opens to the formal dining room with lots of natural lighting and a living room. The kitchen has beautiful countertops and cabinets, with a commercial-grade stove top and breakfast bar. Guest bedroom on the first floor with a full-size bathroom. Gorgeous flooring throughout the home. Open second living area or game room on the second floor perfect for entertaining. Additional open areas on the second floor can be used as a study or office area. Secondary bedrooms are very spacious with upgraded bathroom. Huge master bedroom and upgraded bathroom with separate shower and tub.
SEE MORE
- 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: Fairways of Sherrill Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fairways of Sherrill Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,840 |
| EXPENSES | Loan Payment | -$1,803 |
| Property Tax | -$960 | |
| Property Insurance | -$242 | |
| HOA | -$31 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$294
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.
$519,000
PROJECTED PRICE
$2,840
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$143,285
LOAN DETAILS
$1,803
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $129,750 |
| Loan Amount | $389,250 |
1.67
YEARS SAVED
$5,796
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,840
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$3,121
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
3211 Westgate Lane Richardson, TX 1
- 5 beds 3 baths ∙ 3,716 Sqft ∙ Built 1990 5 beds 3 baths ∙ 3,716 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $2,840
- $0.76
-
3001 Wren Lane Richardson, TX 2
- 4 beds 3 baths ∙ 3,382 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,382 Sqft ∙ Built 1988
LEASED 06/22/20- Rent
- Rent Per SQFT
- $2,850
- $0.84
-
3109 Cedar Ridge Drive Richardson, TX 3
- 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000 5 beds 5 baths ∙ 3,552 Sqft ∙ Built 2000
LEASED 04/06/20- Rent
- Rent Per SQFT
- $3,000
- $0.84
PROPERTY LISTING DETAILS
Keller Williams Central
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14505161
Last Updated: 01/23/2021
