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3921 Joe Wilson Road Midlothian, TX 76065

3 Beds 3 Baths 2,721 sqft Built 1998

INVESTimate

$445,000

List Price

$2,420

$2,178 - $2,662

Rent Est.

$478,998  ( +7.64%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $163.54
  • 6 Days on Market
  • MLS # : 14414648
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,721 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Ready for a little Country feel. Home offers 3 bedrooms 2 and half bath . Game room upstairs with with half bath. Kitchen offers granite counter tops,electric stove top.double ovens. Large master suite separate shower and walk in closet. Circle Drive with extra parking and a 30 x 40 metal building for an excellent man cave .

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: Victory Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Victory Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262313

* 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
Dolores Mcclatchey Elementary School Primary Regular NA
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Dolores Mcclatchey Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

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-$12k-$10k-$8.0k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,642
Property Tax -$971
Property Insurance -$184
Property Management Fees -$99
CASH FLOW
-$476

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.

$445,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.64%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$701

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,667

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4203$2,4754$2,600
$2,600
RENT COMPS ANALYSIS
  • 3921 Joe Wilson Road Midlothian, TX 2
    • 3 beds 3 baths ∙ 2,721 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,721 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.89
    •  
  • 3898 Shiloh Court Midlothian, TX 1
    • 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 1985
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 3911 Alpha Way Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2005
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.96
    •  
  • 4411 Morninglory Parkway Midlothian, TX 4
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2014
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
PROPERTY LISTING DETAILS
Marla Yost
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414648
Last Updated: 08/21/2020
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