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3227 Poppy Place Lancaster, TX 75134

5 Beds 3 Baths 3,648 sqft Built 2005

$268,500

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $73.60
  • 2 Days on Market
  • MLS # : 14477496
  • Updated Date : 11/27/2020 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,648 sqft
  • Baths : 3 full
Listing Agent

The Michael Group

Listing Agent's Description

Open House: Sunday, November 29th 1PM-3PM Beautiful well maintained cul-de-sac home have lots of space to entertain. This 5 bedroom home comes with 5 bedrooms, 3 baths, 1 living, 1 study and 2 dining areas plus a GAMEROOM. Kitchen opens to breakfast area and one of the living areas. One spacious bedroom located on 1st level. On the 2nd level you'll find an impressive master suite with a sitting area. Double doors leads to master bath, separate shower, double vanity and large walk-in closet. Roof replaced July 2020. A MUST SEE.

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: Meadowview

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadowview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Houston Elementary School Primary Regular 681 37 5
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Houston Elementary School

  • Education Level: Primary
  • # of students: 681
  • # of teachers: 37
5
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$241,650$295,350$268,500

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$991
Property Tax -$683
Property Insurance -$238
Property Management Fees -$99
CASH FLOW
-$1

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.

$268,500

PROJECTED PRICE

$2,010

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

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$76,903

INVESTMENT

$76,903

Down Payment
$67,125
Rehab Estimate
$5,750
Closing Costs
$4,028

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$991

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,125
Loan Amount $201,375
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$11,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.55

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.57

    COMP AVG. RENT PER SQFT
Comps Range
$1,945
1$1,9452$1,9953$2,0104$2,150
$2,150
RENT COMPS ANALYSIS
  • 3227 Poppy Place Lancaster, TX 3
    • 5 beds 3 baths ∙ 3,648 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,648 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.55
    •  
  • 1043 Graystone Drive Lancaster, TX 1
    • 6 beds 3 baths ∙ 3,644 Sqft ∙ Built 2006 6 beds 3 baths ∙ 3,644 Sqft ∙ Built 2006
    property image
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.53
    •  
  • 1009 Blackberry Trail Lancaster, TX 2
    • 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,373 Sqft ∙ Built 2005
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.59
    •  
  • 2827 Amber Waves Lane Lancaster, TX 4
    • 5 beds 3 baths ∙ 3,648 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,648 Sqft ∙ Built 2007
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.59
    •  
PROPERTY LISTING DETAILS
Toni Smith
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477496
Last Updated: 11/27/2020
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