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3452 Lark Meadow Way Dallas, TX 75287

3 Beds 2 Baths 1,873 sqft Built 1994

$289,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $154.30
  • 8 Days on Market
  • MLS # : 14460747
  • Updated Date : 10/30/2020 at 14:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,873 sqft
  • Baths : 2 full
Listing Agent

Dave Perry Miller Real Estate

Listing Agent's Description

Superb NW Dallas location w EZ access to both tollways, shopping and restaurants in this park like setting that's a short walk to Mckamy Elementary. Impressive drive-up on a raised lot w tall entry porch flanked by mature trees. EZ maintenance in and out w solid surface flooring in living areas and modest-fenced (b-o-b, capped, 2 gates) rear yard w patio and brick exterior. Layout wins w a gathering rm w raised-hearth, corner, brick, gas-log fireplace that opens to the patio and roomy, sunlit kitchen w an abundance of counter & cabinet space (42 tall uppers), pantry closet, long breakfast bar, granite tops & SS appliances. Plantation shutters & tall ceilings add to style & comfort of the front living-dining rm.

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Charlie Mckamy Elementary School Primary Regular 513 34 4
Ted Polk Middle School Middle Regular 1,100 64 4
Newman Smith High School High Regular 1,973 126 6

Charlie Mckamy Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 34
4
GreatSchools Rating

Ted Polk Middle School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 64
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,066
Property Tax -$571
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
$38

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.

$289,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9104$1,9305$1,950
$1,950
RENT COMPS ANALYSIS
  • 3452 Lark Meadow Way Dallas, TX 3
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $1.02
    •  
  • 3136 Renaissance Drive Dallas, TX 1
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 1991
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 2607 Seedling Lane Dallas, TX 2
    • 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,827 Sqft ∙ Built 1982
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 3043 Renaissance Court Dallas, TX 4
    • 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 1991
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.02
    •  
  • 3461 Lark Meadow Way Dallas, TX 5
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1994
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jim Berrong
Dave Perry Miller Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460747
Last Updated: 10/30/2020
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