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4005 Bobbin Lane Addison, TX 75001

4 Beds 3 Baths 2,307 sqft Built 1980

$375,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $162.55
  • 2 Days on Market
  • MLS # : 14481641
  • Updated Date : 12/04/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,307 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Premier

Listing Agent's Description

Put on your decorator hat – this home is ready for your updates! Located in highly desirable Midway Meadows subdivision, this home has 4 bdrms, 2.5 baths, 2 living & 2 dining areas, 2-car garage. Spacious living room has vaulted ceilings, fireplace bricked to ceiling, & view of back yard & patio. Family room has wet bar, storage closet & adjacent half bath. Roof approximately one year old, water heater “newish” & HVAC approximately five years old. Back yard fence less than one year old. Carpet in hallway & all bdrms has been removed. Excellent location, close to Addison Athletic Club ($10 one-time membership fee per person) as well as Addison’s many restaurants. Estate property being sold “as is, where is.”

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,384
Property Tax -$818
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
-$51

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.

$375,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$16,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,382

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,3504$2,4105$2,850
$2,850
RENT COMPS ANALYSIS
  • 4005 Bobbin Lane Addison, TX 4
    • 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $1.04
    •  
  • 14406 Tanglewood Drive Farmers Branch, TX 1
    • 5 beds 3 baths ∙ 2,338 Sqft ∙ Built 1966 5 beds 3 baths ∙ 2,338 Sqft ∙ Built 1966
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.94
    •  
  • 14612 Lakecrest Drive Addison, TX 2
    • 3 beds 3 baths ∙ 2,425 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,425 Sqft ∙ Built 1992
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 3812 Waterford Drive Addison, TX 3
    • 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 1993
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.13
    •  
  • 14609 Cambridge Court Addison, TX 5
    • 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 1993
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.15
    •  
PROPERTY LISTING DETAILS
Bruce Arfsten
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481641
Last Updated: 12/04/2020
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