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4095 Passage Way Lancaster, TX 75146

4 Beds 3 Baths 2,334 sqft Built 2016

$253,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $108.40
  • 4 Days on Market
  • MLS # : 14491043
  • Updated Date : 01/02/2021 at 08:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,334 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

Welcome Home!! CHARMING 4 BEDROOM, 2.1 BATHROOM 2 CAR GARAGE GEM!! This highly sought after home is ready to be your forever home. Near local schools, premium lot, with a spacious kitchen and full baths! You will love the floorplan of this two story home! Located near Bear Creek Nature Park, Country View Golf Course, and Ten Mile Creek Preserve! IT WON'T LAST LONG! Text Agent ONLY please!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bear Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Bear Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Lancaster Elementary School Primary Regular 585 33 7
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Lancaster Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 33
7
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$227,700$278,300$253,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$933
Property Tax -$644
Property Insurance -$162
HOA -$33
Property Management Fees -$99
CASH FLOW
-$112

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.

$253,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,795

INVESTMENT

$72,795

Down Payment
$63,250
Rehab Estimate
$5,750
Closing Costs
$3,795

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,250
Loan Amount $189,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,7255$1,760
$1,760
RENT COMPS ANALYSIS
  • 4095 Passage Way Lancaster, TX 5
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.75
    •  
  • 1617 Ambercrest Drive Lancaster, TX 1
    • 3 beds 2 baths ∙ 2,244 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,244 Sqft ∙ Built 2005
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 1779 Eagle River Trail Lancaster, TX 2
    • 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 2006
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 2135 Fair Weather Drive Lancaster, TX 3
    • 3 beds 2 baths ∙ 2,494 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,494 Sqft ∙ Built 2005
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 2029 Barclay Drive Lancaster, TX 4
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2006
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.72
    •  
PROPERTY LISTING DETAILS
Zay Mixon
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491043
Last Updated: 01/02/2021
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