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396 Meadow Ridge Drive Burleson, TX 76028

4 Beds 2 Baths 2,160 sqft Built 2012

$265,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $122.69
  • 5 Days on Market
  • MLS # : 14461343
  • Updated Date : 11/01/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,160 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Burleson

Listing Agent's Description

Now is your chance to live in Mistletoe Hill a well-established community with sidewalks, a community pool, parks, and a pond. This home sits on a huge corner lot with an oversized yard landscaped flowerbeds, shrubs, and custom brick and rockwork. interior upgrades include granite countertops large kitchen island, stainless steel appliances, tile, and laminate flooring WBF Box ceiling in living and master. master bath includes double vanity, garden tub, and separate shower! The interior does not lack in space bright and wide open floor plan including arched doorways & 2-inch faux wood blinds

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: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261996

* 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
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$978
Property Tax -$662
Property Insurance -$152
HOA -$28
Property Management Fees -$99
CASH FLOW
-$79

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,336

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,863

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6993$1,7504$1,8005$1,840
$1,840
RENT COMPS ANALYSIS
  • 396 Meadow Ridge Drive Burleson, TX 5
    • 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.85
    •  
  • 349 Firewheel Road Burleson, TX 1
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.80
    •  
  • 112 Queen Annes Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 2003
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.85
    •  
  • 1133 Scarlet Sage Parkway Burleson, TX 3
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 313 Angela Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,983 Sqft ∙ Built 2001
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Nora Cobb
Jp And Associates Burleson
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461343
Last Updated: 11/01/2020
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