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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $233.27
- 1 Days on Market
- MLS # : 14514522
- Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,500 sqft
- Baths : 2 full
Listing Agent
Mcneill And Associates
Listing Agent's Description
Bring your horses! Charming & welcoming, this REMODELED gambrel roofed farm house on 2.7acres is a delightful mini ranch. Home remodeled w all NEW electrical, plumbing, spray foam insulation, windows, & doors. Notice the soft close cabinet doors in kitchen & the beautiful door hardware thru out the home. All NEW light fixtures. Kitchen, living, & eating area open & spacious. Two bedrooms downstairs w bathroom. One bedroom up with bath. Open loft area up overlooks the living area will make a good game room. Tankless water heater, recent roof, luxury vinyl plank, & new carpet. Covered porch. Acreage is open w fences along three sides. Outdoor stalls are useful. Bare bones of small barn on slab needs work.
SEE MORE
- 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
Zip Code: 76078
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 76078
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,130 |
| EXPENSES | Loan Payment | -$1,215 |
| Property Tax | -$639 | |
| Property Insurance | -$114 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$937
|
||
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.
$349,900
PROJECTED PRICE
$1,130
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$98,474
LOAN DETAILS
$1,215
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $87,475 |
| Loan Amount | $262,425 |
-0.33
YEARS SAVED
$1,581
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,130
LIST RENT -
$0.75
LIST RENT PER SQFT
-
$1,125
COMP ESTIMATED VALUE -
$0.75
COMP AVG. RENT PER SQFT
Comps Range
-
343 Martindale Lane Rhome, TX 1
- 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1995
![property image]()
- Rent
- Rent Per SQFT
- $1,130
- $0.75
-
150 Morgan Place New Fairview, TX 2
- 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 1997
![property image]()
LEASED 04/17/20- Rent
- Rent Per SQFT
- $1,350
- $0.75
PROPERTY LISTING DETAILS
Mcneill And Associates
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14514522
Last Updated: 02/06/2021
