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401 Chestnut Lane Roanoke, TX 76262

4 Beds 4 Baths 2,835 sqft Built 2015

$455,000

List Price

$2,950

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $160.49
  • 1 Days on Market
  • MLS # : 14532467
  • Updated Date : 03/13/2021 at 13:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,835 sqft
  • Baths : 3 full , 1 half
Listing Agent

Tdrealty

Listing Agent's Description

How about Moving to a Gated Community Home with 4 bedroom 3.5 Bath 2 Car Garage Amazing Well Organized Open Concept of Kitchen, Dining and Living Area with Gas Fire Place. Formal Dining, Nook plus Eat-in Kitchen with Granite Counter Tops. Upstairs Game Room or Media Room. Gas Cooktop Stainless Appliances Walk-in Pantry. Master on Main Floor PLUS good size 2nd Master Upstairs. Engineer Wood floors & tile on the mail floor. Carpet is only a few weeks old. Enjoy the Community Pool This Summer maintained by HOA. Over size Back Yard & Covered Patio. Very close proximity to Lots of Dining and Shopping area, only 15 miles from DFW International Airport. Walking distance to Baylon Nelson High School.

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

Zip Code: 76262

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k430k

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

Zip Code: 76262

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262792

* 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
Samuel Beck Elementary School Primary Regular 731 47 10
Medlin Middle School Middle Regular 1,078 65 8
Byron Nelson High School High Unknown NA

Samuel Beck Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 47
10
GreatSchools Rating

Medlin Middle School

  • Education Level: Middle
  • # of students: 1,078
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

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

$409,500$500,500$455,000

PURCHASE PRICE

$2,655$3,245$2,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$1,580
Property Tax -$793
Property Insurance -$191
HOA -$79
Property Management Fees -$99
CASH FLOW
$208

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.

$455,000

PROJECTED PRICE

$2,950

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,325

INVESTMENT

$126,325

Down Payment
$113,750
Rehab Estimate
$5,750
Closing Costs
$6,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,580

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $113,750
Loan Amount $341,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$38,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,934

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,9504$2,9505$3,199
$3,199
RENT COMPS ANALYSIS
  • 401 Chestnut Lane Roanoke, TX 4
    • 4 beds 4 baths ∙ 2,835 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,835 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.04
    •  
  • 2541 Rose Bay Court Trophy Club, TX 1
    • 3 beds 4 baths ∙ 2,601 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,601 Sqft ∙ Built 2012
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.04
    •  
  • 1398 Caspian Drive Roanoke, TX 2
    • 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,893 Sqft ∙ Built 2014
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.97
    •  
  • 421 Middleton Drive Roanoke, TX 3
    • 5 beds 4 baths ∙ 2,836 Sqft ∙ Built 2015 5 beds 4 baths ∙ 2,836 Sqft ∙ Built 2015
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.04
    •  
  • 2623 Kingsford Lane Trophy Club, TX 5
    • 3 beds 2 baths ∙ 2,922 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,922 Sqft ∙ Built 2011
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,199
    • $1.09
    •  
PROPERTY LISTING DETAILS
Margarita Cruz
Tdrealty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532467
Last Updated: 03/13/2021
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