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406 Garden Tree Trail Midlothian, TX 76065

4 Beds 3 Baths 2,349 sqft Built 2020

$364,990

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $155.38
  • 2 Days on Market
  • MLS # : 14481778
  • Updated Date : 12/04/2020 at 19:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,349 sqft
  • Baths : 3 full
Listing Agent

Knob & Key Realty Partners Llc

Listing Agent's Description

NEW JOHN HOUSTON CUSTOM HOME IN THE GROVE COMMUNITY. This family home features a covered patio, a fully landscaped, fenced yard and sprinkler system. The interior has a split plan with a bedroom and full bathroom upstairs with a game room. Upgrades include wood floors, custom painted cabinets, wood hood, faux stone fireplace and upgraded countertops and tile. READY IN FEBRUARY!

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
T.e. Baxter Elementary School Primary Regular 611 41 6
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

T.e. Baxter Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 41
6
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
 

$328,491$401,489$364,990

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,347
Property Tax -$797
Property Insurance -$163
HOA -$31
Property Management Fees -$99
CASH FLOW
-$536

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$364,990

PROJECTED PRICE

$1,900

PROJECTED RENT

0.52%

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) 3.00%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,722

INVESTMENT

$98,722

Down Payment
$91,248
Rehab Estimate
$2,000
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,248
Loan Amount $273,743
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$22

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,267

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0953$2,1754$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 406 Garden Tree Trail Midlothian, TX 1
    • 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,349 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 3018 Blue Jay Lane Midlothian, TX 2
    • 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,219 Sqft ∙ Built 2003
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.94
    •  
  • 3613 Worthington Drive Midlothian, TX 3
    • 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 2017
    property image
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.96
    •  
  • 3605 Regent Street Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2010
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 3626 Hershal Drive Midlothian, TX 5
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 2007
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
PROPERTY LISTING DETAILS
Alan Simonton
Knob & Key Realty Partners Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481778
Last Updated: 12/04/2020
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