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328 Sims Drive Cedar Hill, TX 75104

3 Beds 2 Baths 1,591 sqft Built 1986

$215,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $135.14
  • 3 Days on Market
  • MLS # : 14500140
  • Updated Date : 01/15/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,591 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Ready for move in! This amazing home is located in the Highlands of Cedar Hill. Home featurea vaulted ceilings in the living and dinning areas. The laundry room is located just off of the over-sized kitchen Updates include fresh interior paint and recentlly installed luxury vinyl plank in the main living areas and office. The bedrooms and sunroom feature recently installed carpeting. The kitchen features updated subway tile backsplash. The furance and interior hvac unit were replaced in August of 2020. The roof was replaced in 2019.

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: Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8971740

* 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
Highlands Elementary School Primary Regular 599 30 4
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Highlands Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 30
4
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$747
Property Tax -$489
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
$56

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.

$215,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$12,621

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5103$1,5254$1,5455$1,550
$1,550
RENT COMPS ANALYSIS
  • 328 Sims Drive Cedar Hill, TX 2
    • 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,591 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.95
    •  
  • 509 Rainier Street Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1986
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 817 Bailey Drive Cedar Hill, TX 3
    • 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,591 Sqft ∙ Built 1986
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.96
    •  
  • 312 Stringer Drive Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 1994
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.94
    •  
  • 534 Sims Drive Cedar Hill, TX 5
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1987
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
PROPERTY LISTING DETAILS
David Bielamowicz
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500140
Last Updated: 01/15/2021
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