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3703 Mcbroom Street Dallas, TX 75212

4 Beds 3 Baths 2,324 sqft Built 2021

$397,500

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $171.04
  • 4 Days on Market
  • MLS # : 14507834
  • Updated Date : 01/28/2021 at 20:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,324 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Hottest new neighborhood in Dallas!! New Construction, all the bells and whistles. Home includes full horizontal fence with electric gate to driveway and garage, security system with cameras, built-in insect control. Quartz countertops, stainless appliances, marble backsplash. Ground floor features mud room, huge utility, powder bath, office, living and kitchen. Second floor, four bed rooms with 2 full baths.

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: Eagle Ford-Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $64k243k

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

Neighborhood: Eagle Ford-Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6171734

* 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
 

$357,750$437,250$397,500

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,381
Property Tax -$942
Property Insurance -$162
Property Management Fees -$99
CASH FLOW
-$254

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.

$397,500

PROJECTED PRICE

$2,330

PROJECTED RENT

0.59%

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$8.0k

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$107,338

INVESTMENT

$107,338

Down Payment
$99,375
Rehab Estimate
$2,000
Closing Costs
$5,963

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,381

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,375
Loan Amount $298,125
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,708

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,295

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,2954$2,3305$2,975
$2,975
RENT COMPS ANALYSIS
  • 3703 Mcbroom Street Dallas, TX 4
    • 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,324 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.00
    •  
  • 2436 Tan Oak Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2002
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 4067 China Elm Drive Dallas, TX 2
    • 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2002
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 4042 China Elm Drive Dallas, TX 3
    • 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,544 Sqft ∙ Built 2002
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.90
    •  
  • 4019 Puget Street Dallas, TX 5
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2020
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.19
    •  
PROPERTY LISTING DETAILS
Kelly Starnes Nyfeler
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507834
Last Updated: 01/28/2021
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