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3519 Nomas Street Dallas, TX 75212

4 Beds 2 Baths 1,867 sqft Built 2021

$369,900

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $198.13
  • 3 Days on Market
  • MLS # : 14532239
  • Updated Date : 03/13/2021 at 08:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,867 sqft
  • Baths : 2 full
Listing Agent

Dwell Dallas Realtors, Llc

Listing Agent's Description

A Bright, Stylish, and Uniquely Designed Home that is positioned in West Dallas' City Living!! Highlights include a generous living area with excellent natural light, a welcoming kitchen & dining area, sophisticated finishes, Stainless Steel appliances which include dishwasher, stove, and built in microwave, Spacious Master Bedroom with a luxurious master bath, & much more! Pictures will be updated as construction progresses. All info contained herein deemed reliable but not guaranteed. Buyer(s) to verify all info including schools and dimensions. Estimated Completion is approx End March. Please Note: The interior pictures are Sample Pictures of another similar home. Colors, Materials, & Designs may vary.

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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: 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
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,285
Property Tax -$877
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
-$256

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.

$369,900

PROJECTED PRICE

$2,140

PROJECTED RENT

0.58%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,024

INVESTMENT

$100,024

Down Payment
$92,475
Rehab Estimate
$2,000
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8953$2,0004$2,1405$2,195
$2,195
RENT COMPS ANALYSIS
  • 3519 Nomas Street Dallas, TX 4
    • 4 beds 2 baths ∙ 1,867 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,867 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $1.15
    •  
  • 2423 Poinciana Place Dallas, TX 1
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2003
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 4451 Canada Drive Dallas, TX 2
    • 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,660 Sqft ∙ Built 2001
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.14
    •  
  • 4024 Shadrack Drive Dallas, TX 3
    • 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,781 Sqft ∙ Built 2020
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
  • 5559 Butternut Street Dallas, TX 5
    • 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,855 Sqft ∙ Built 2020
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.18
    •  
PROPERTY LISTING DETAILS
Icela Fernandez
Dwell Dallas Realtors, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532239
Last Updated: 03/13/2021
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