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3411 Harmon Street Dallas, TX 75215

3 Beds 3 Baths 1,600 sqft Built 2021

$225,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $140.63
  • 2 Days on Market
  • MLS # : 14490752
  • Updated Date : 12/26/2020 at 14:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keeping It Realty

Listing Agent's Description

New build coming soon. Come and build your new home on this lot. Custom home to be built for the ideal client looking for a one of a kind new build with all the bells and whistles. Client can be apart of the early design phases and create their vision with the property builder. 1500-1800 square feet opportunity to build your dream home.

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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: Bertrand

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $53k243k

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

Neighborhood: Bertrand

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6851734

* 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
Paul L. Dunbar Learning Center Primary Regular 590 41 1
Billy Earl Dade Middle School Middle Regular 888 68 2
James Madison High School High Regular 464 42 2

Paul L. Dunbar Learning Center

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 41
1
GreatSchools Rating

Billy Earl Dade Middle School

  • Education Level: Middle
  • # of students: 888
  • # of teachers: 68
2
GreatSchools Rating

James Madison High School

  • Education Level: High
  • # of students: 464
  • # of teachers: 42
2
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$830
Property Tax -$533
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$82

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.

$225,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

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$61,625

INVESTMENT

$61,625

Down Payment
$56,250
Rehab Estimate
$2,000
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4504$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 3411 Harmon Street Dallas, TX 5
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 3219 Goldspier Drive Dallas, TX 1
    • 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 2019
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 2829 South Boulevard Dallas, TX 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 2011
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 3518 Frank Street Dallas, TX 3
    • 4 beds 2 baths ∙ 1,567 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,567 Sqft ∙ Built 2019
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 2634 Stephenson Drive Dallas, TX 4
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2020
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.01
    •  
PROPERTY LISTING DETAILS
Patrick Narvaiz
Keeping It Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490752
Last Updated: 12/26/2020
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