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3324 Nomas Street Dallas, TX 75212

4 Beds 2 Baths 1,694 sqft Built 2020

$230,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $135.77
  • 3 Days on Market
  • MLS # : 14500685
  • Updated Date : 01/16/2021 at 10:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,694 sqft
  • Baths : 2 full
Listing Agent

Monument Realty

Listing Agent's Description

NEW BUILD with amazing upgrades and value for the area. 4 bedrooms 2 baths, granite countertops, wood flooring, contemporary tub, upgraded bathroom. Close proximity to highway, shopping, restaurants. The preferred lender will pay the title policy. The pictures are samples of flooring, fixtures, tile, granite, molding, appliances, and colors. The buyer must meet the DHA income requirements. Please visit the website for clarity. The details are on the Upcoming Builds page: www.CapriSellsDFW.com

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: Westmoreland Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $67k243k

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

Neighborhood: Westmoreland Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6341734

* 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
Eladio R. Martinez Learning Center Primary Regular 539 32 7
L.g. Pinkston High School Middle Regular 999 74 3
L.g. Pinkston High School High Regular 999 74 3

Eladio R. Martinez Learning Center

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 32
7
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: Middle
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: High
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$799
Property Tax -$545
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$332

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 3.00%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,950

INVESTMENT

$62,950

Down Payment
$57,500
Rehab Estimate
$2,000
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$43,500

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,855

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6953$1,7504$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3324 Nomas Street Dallas, TX 4
    • 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,694 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.12
    •  
  • 3508 Jenny Dale Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 2008
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 2423 Poinciana Place Dallas, TX 2
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2003
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 4047 China Elm Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,588 Sqft ∙ Built 2002
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 4024 Shadrack Drive Dallas, TX 5
    • 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 2020
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
PROPERTY LISTING DETAILS
Capri Truvillion
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500685
Last Updated: 01/16/2021
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