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4041 Richard Road Midlothian, TX 76065

4 Beds 3 Baths 2,724 sqft Built 2018

$444,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $163.00
  • 2 Days on Market
  • MLS # : 14516226
  • Updated Date : 02/20/2021 at 20:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,724 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

PEACEFUL CONTRY LIVING! Right in the heart of Midlothian lies well maintained home. With large backyard and a great floor plan. This home is sure to impress. Enjoy an over sized main bathroom with a separate shower, garden tub, and built in custom cabinets. Spacious backyard makes for great entertaining. You will not want to miss out on this one, for sure.

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: Old Farmhouse Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k501k

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

Neighborhood: Old Farmhouse Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262556

* 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
Dolores Mcclatchey Elementary School Primary Regular NA
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Dolores Mcclatchey Elementary School

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

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

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

$399,600$488,400$444,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,542
Property Tax -$960
Property Insurance -$185
HOA -$33
Property Management Fees -$99
CASH FLOW
-$709

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.

$444,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,410

INVESTMENT

$123,410

Down Payment
$111,000
Rehab Estimate
$5,750
Closing Costs
$6,660

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,542

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,000
Loan Amount $333,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$4

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,897

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,110
1$2,1102$2,6003$2,6954$2,725
$2,725
RENT COMPS ANALYSIS
  • 4041 Richard Road Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,724 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,724 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.77
    •  
  • 4411 Morninglory Parkway Midlothian, TX 2
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2014
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 3911 Alpha Way Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2005
    property image
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.04
    •  
  • 5811 Jennifer Lane Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2002
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $1.11
    •  
PROPERTY LISTING DETAILS
Dorothy Michel
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516226
Last Updated: 02/20/2021
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