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404 Channel View Court Desoto, TX 75115

3 Beds 2 Baths 1,614 sqft Built 1989

$229,900

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $142.44
  • 1 Days on Market
  • MLS # : 14532483
  • Updated Date : 03/13/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

Welcome Home! Beautiful 3 bedroom 2 bath with study that can be used as a play area or sitting room. New AC , fence, and privacy Gate installed. The large family room offers ample light with wood burning fireplace. The owners suite is separate from secondary bedrooms and offers a walk-in closet, dual sinks, soaking tub . Wonderful open floorplan is great for entertaining! Agent and buyer to verify all information.

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: 75115

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451741

* 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
The Meadows Elementary School Primary Regular 546 32 4
Desoto East Middle School Middle Regular 687 43 3

The Meadows Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 32
4
GreatSchools Rating

Desoto East Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 43
3
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$799
Property Tax -$549
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$127

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.

$229,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,200

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,436

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4753$1,5254$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 404 Channel View Court Desoto, TX 1
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.89
    •  
  • 1312 Sparrow Court Desoto, TX 2
    • 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,666 Sqft ∙ Built 1986
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
  • 503 Highlands Drive Desoto, TX 3
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1979
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
  • 528 Newcastle Drive Desoto, TX 4
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1979
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 608 Duke Drive Desoto, TX 5
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jacqueline Gamble
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532483
Last Updated: 03/13/2021
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