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408 Kimberly Drive Mesquite, TX 75149

3 Beds 2 Baths 1,470 sqft Built 1981

$180,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $122.45
  • 3 Days on Market
  • MLS # : 14481335
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,470 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

AMAZING OPPORTUNITY! Come and check out this large corner lot in a very well established neighborhood. This 1470 square foot home offers 3 beds, 2 baths, 2 dining areas and split bedrooms. Living room boasts a brick fireplace and wet bar, and is perfectly situated in the center of home for ultimate entertaining. Adorable breakfast nook off of the kitchen is surrounded with natural light from all the windows! This is a wonderful opportunity to update & upgrade anything you'd like to make this your own. THIS HOME IS BEING SOLD AS-IS. SELLER TO MAKE NO REPAIRS. SELLER DOES NOT HAVE A SURVEY.

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: Broadmoor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Broadmoor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Shaw Elementary School Primary Regular 851 48 4
Agnew Middle School Middle Regular 745 49 5
Mesquite High School High Regular 2,851 168 4

Shaw Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 48
4
GreatSchools Rating

Agnew Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 49
5
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$664
Property Tax -$437
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
$98

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.

$180,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$17,429

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4253$1,4954$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 408 Kimberly Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.96
    •  
  • 206 Jasanda Way Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,436 Sqft ∙ Built 1970
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.99
    •  
  • 1012 Garden Trail Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1985
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 1211 Thistle Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,386 Sqft ∙ Built 1984
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 416 Crooked Lane Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1984
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Aaron Stokes
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481335
Last Updated: 12/04/2020
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