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3690 Ledgestone Lane Midlothian, TX 76065

4 Beds 3 Baths 3,469 sqft Built 2017

$575,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $165.75
  • 4 Days on Market
  • MLS # : 14521105
  • Updated Date : 02/26/2021 at 17:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,469 sqft
  • Baths : 2 full , 1 half
Listing Agent

Greater Mansfield Realtors

Listing Agent's Description

This Gorgeous custom home with tons of upgrades sits on a fully fenced approx 1 ac lot with outdoor living center with a grill and refrigerator. Custom finishes throughout. Hand scraped wood floors, upgraded granite tops, PLUS upstairs media room! Gourmet kitchen features huge island w stunning granite, tons of cabinet space, SS appliances, painted cabinets to the ceiling, butlers pantry & walk in pantry. Outdoor space is perfect for relaxing or entertaining!

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: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,997
Property Tax -$1,255
Property Insurance -$228
HOA -$25
Property Management Fees -$99
CASH FLOW
-$684

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.

$575,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
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$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,983

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,875
1$2,8752$2,920
$2,920
RENT COMPS ANALYSIS
  • 3690 Ledgestone Lane Midlothian, TX 2
    • 4 beds 4 baths ∙ 3,469 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,469 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.84
    •  
  • 3611 Skinner Road Midlothian, TX 1
    • 4 beds 4 baths ∙ 3,358 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,358 Sqft ∙ Built 2003
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $0.86
    •  
PROPERTY LISTING DETAILS
John Boguski
Greater Mansfield Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521105
Last Updated: 02/26/2021
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