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3230 Canary Lane Midlothian, TX 76065

3 Beds 2 Baths 1,659 sqft Built 2004

$259,555

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $156.45
  • 4 Days on Market
  • MLS # : 14508443
  • Updated Date : 01/28/2021 at 18:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,659 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

This home is a must see! Beautiful 3 bedroom 2 full bath with an open layout and study included. This home will sell quickly!

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
 

$233,600$285,511$259,555

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$902
Property Tax -$566
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
-$30

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.

$259,555

PROJECTED PRICE

$1,660

PROJECTED RENT

0.64%

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$8.0k

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$74,532

INVESTMENT

$74,532

Down Payment
$64,889
Rehab Estimate
$5,750
Closing Costs
$3,893

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$902

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,889
Loan Amount $194,666
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,180

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,713

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,7453$1,7504$1,7755$1,775
$1,775
RENT COMPS ANALYSIS
  • 3230 Canary Lane Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.00
    •  
  • 1031 Park Place Boulevard Midlothian, TX 2
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1996
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.01
    •  
  • 139 Clinton Lane Midlothian, TX 3
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1998
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 3213 Canary Lane Midlothian, TX 4
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2008
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.08
    •  
  • 1118 Pheasant Drive Midlothian, TX 5
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 2001
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.98
    •  
PROPERTY LISTING DETAILS
Nicholas Mitchell
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508443
Last Updated: 01/28/2021
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