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3513 Misty Meadow Lane Northlake, TX 76226

4 Beds 3 Baths 2,535 sqft Built 2017

INVESTimate

$465,000

List Price

$2,550

$2,300 - $2,800

Rent Est.

$486,344  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $183.43
  • 8 Days on Market
  • MLS # : 14415178
  • Updated Date : 08/25/2020 at 18:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,535 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dfw Premier Properties

Listing Agent's Description

Designers Dream Home! Gorgeous Custom Coventry home with top of the line upgrades. Enjoy an open floor plan perfect for entertaining with surround sound media room, outdoor luxury patio with accordian doors, misters and cooking area. Kitchen boasts huge quartz counters, glamorous lighting, soft close doors, dry bar, stainless appliances and breakfast nook. Relax in the open family room with gas fireplace, surround sound, solid wood floors throughout home. Huge master retreat with free standing soaking tub, double vanities, large step in shower. Upgrades throughout home include: tankless water heater, decorative wall treatments, brick accent wall in office. Community has 4 pools, clubhouse, walking,bike trails.

SEE MORE

MARKET HIGHLIGHTS

  • 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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,716
Property Tax -$1,091
Property Insurance -$174
HOA -$204
Property Management Fees -$99
CASH FLOW
-$733

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.

$465,000

PROJECTED PRICE

$2,550

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,579

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,7003$2,8004$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 3513 Misty Meadow Lane Northlake, TX 1
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.01
    •  
  • 6109 Whiskerbrush Road Flower Mound, TX 2
    • 4 beds 4 baths ∙ 2,661 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,661 Sqft ∙ Built 2017
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.01
    •  
  • 6107 Prairie Brush Trail Northlake, TX 3
    • 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,808 Sqft ∙ Built 2017
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 11417 Winecup Road Flower Mound, TX 4
    • 3 beds 4 baths ∙ 2,680 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,680 Sqft ∙ Built 2014
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
  • 6133 Whiskerbrush Road Flower Mound, TX 5
    • 4 beds 4 baths ∙ 2,732 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,732 Sqft ∙ Built 2017
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.02
    •  
PROPERTY LISTING DETAILS
Michelle Sacks
Dfw Premier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415178
Last Updated: 08/25/2020
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