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3604 Monticello Way Heartland, TX 75126

4 Beds 2 Baths 2,043 sqft Built 2021

$324,340

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $158.76
  • 5 Days on Market
  • MLS # : 14516689
  • Updated Date : 02/10/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,043 sqft
  • Baths : 2 full
Listing Agent

Classic Property Management

Listing Agent's Description

Brand New One-Story by Bloomfield Homes, Turn-key Ready March 2021! Stone & Brick Exterior with 4 bed, 2 bath and 2-car Garage. Open floorplan with plenty of windows adding to spacious & airy feel. Kitchen includes SS Appliances and features large island work space. Study with classic French Doors. Porcelain Wood-look Tile throughout. Great outdoor space with Covered Patio, Fully Fenced yard with irrigation system and new landscaping. Located in desirable Heartland community with amazing amenities like Pool complex with 30' water slide, stocked fishing ponds, and fitness center! Call today or visit our model to learn more.

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75126

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Barbara Walker Elementary School Primary Regular 585 33 4
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Barbara Walker Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 33
4
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$291,906$356,774$324,340

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,127
Property Tax -$743
Property Insurance -$145
HOA -$39
Property Management Fees -$99
CASH FLOW
-$353

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.

$324,340

PROJECTED PRICE

$1,800

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,950

INVESTMENT

$87,950

Down Payment
$81,085
Rehab Estimate
$2,000
Closing Costs
$4,865

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,127

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,085
Loan Amount $243,255
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8003$1,9254$1,9505$2,195
$2,195
RENT COMPS ANALYSIS
  • 3604 Monticello Way Heartland, TX 2
    • 4 beds 2 baths ∙ 2,043 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,043 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 4000 Freedom Street Heartland, TX 1
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 2008
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 3015 Cassinia Parkway Heartland, TX 3
    • 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,159 Sqft ∙ Built 2017
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.89
    •  
  • 3118 Buckthorn Street Heartland, TX 4
    • 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,288 Sqft ∙ Built 2016
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.85
    •  
  • 1952 Quartz Trail Heartland, TX 5
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2018
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.94
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516689
Last Updated: 02/10/2021
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