Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
3903 Spencer Lane 
Heartland, TX
75126
3 Beds 2 Baths 1,566 sqft
Built 2020
INVESTimate
$262,042
List Price
$71,441
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Built In 2020
- Price/Sqft : $167.33
- 2 Days on Market
- MLS # : 14420839
- Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,566 sqft
- Baths : 2 full
Listing Agent
Highland Homes Realty
Listing Agent's Description
MLS# 14420839 - Built by Highland Homes - January completion! ~ Open and inviting spaces welcome you into this amazing one-story home. It provides generous room for entertaining with the kitchen flowing into the dining and living room areas. The window seats in the kitchen and Master suite gives a cozy feel for everyone to relax. The three bedrooms have natural lighting and large closets. This plan includes an expansive granite island.
SEE MORE
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75126
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,570 |
| EXPENSES | Loan Payment | -$967 |
| Property Tax | -$600 | |
| Property Insurance | -$118 | |
| HOA | -$38 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$251
|
||
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.
$262,042
PROJECTED PRICE
$1,570
PROJECTED RENT
0.60%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 5.76% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$71,441
LOAN DETAILS
$967
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $65,511 |
| Loan Amount | $196,532 |
0.67
YEARS SAVED
$813
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,570
LIST RENT -
$1
LIST RENT PER SQFT
-
$1,562
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
3903 Spencer Lane Heartland, TX 4
- 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2020
- Rent
- Rent Per SQFT
- $1,570
- $1.00
-
2004 Rushing Creek Drive Heartland, TX 1
- 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 2006
LEASED 08/01/19- Rent
- Rent Per SQFT
- $1,450
- $1.03
-
2007 Stonewood Heartland, TX 2
- 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2015
LEASED 03/06/20- Rent
- Rent Per SQFT
- $1,500
- $0.99
-
2009 Woodhurst Trail Heartland, TX 3
- 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2006
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,525
- $0.95
-
2006 Rushing Creek Drive Heartland, TX 5
- 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 2006
LEASED 01/03/20- Rent
- Rent Per SQFT
- $1,595
- $1.02
PROPERTY LISTING DETAILS
Highland Homes Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14420839
Last Updated: 08/25/2020
