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4004 Winter Park Lane Addison, TX 75001

4 Beds 3 Baths 3,208 sqft Built 1995

$575,000

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $179.24
  • 2 Days on Market
  • MLS # : 14474708
  • Updated Date : 11/21/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,208 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Dallas Midtown

Listing Agent's Description

Custom home with high end finish out. Wood floors, ceramic tile floors, carpet in Bedrooms. Cir Drive, 10' & 12' ceilings, Master BR & additional BR down, 2 offices up that could be Bedrooms with 12x12 room that could be closet between Br's. Sitting Area, Work out area & video rooms upstairs. Upstairs balcony overlooking pool-spa with exceptional landscaping, sitting areas & patio around pool. Board on Board private fence. Spa-like Master Bath, double vanities, double shower-heads, high ceiling in Master Closet. Fire sprinkler system & video security sys. Too many extras to list.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Midway Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k363k

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

Neighborhood: Midway Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262409

* 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
George Herbert Walker Bush Elementary School Primary Regular 667 41 NA
E.d. Walker Middle School Middle Regular 748 46 3
W. T. White High School High Regular 2,290 134 4

George Herbert Walker Bush Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 41
NA
GreatSchools Rating

E.d. Walker Middle School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 46
3
GreatSchools Rating

W. T. White High School

  • Education Level: High
  • # of students: 2,290
  • # of teachers: 134
4
GreatSchools Rating
 

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

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$2,122
Property Tax -$1,255
Property Insurance -$213
Property Management Fees -$99
CASH FLOW
-$798

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

$2,890

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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

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

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 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$61

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,064

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,890
1$2,8902$2,9003$2,950
$2,950
RENT COMPS ANALYSIS
  • 4004 Winter Park Lane Addison, TX 1
    • 4 beds 3 baths ∙ 3,208 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,208 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.90
    •  
  • 3887 Emerald Court Addison, TX 2
    • 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1996
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.01
    •  
  • 3548 Golfing Green Drive Farmers Branch, TX 3
    • 3 beds 4 baths ∙ 3,288 Sqft ∙ Built 1987 3 beds 4 baths ∙ 3,288 Sqft ∙ Built 1987
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.90
    •  
PROPERTY LISTING DETAILS
Joyce Bauert
Keller Williams Dallas Midtown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474708
Last Updated: 11/21/2020
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