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4123 Lawngate Drive Dallas, TX 75287

3 Beds 3 Baths 1,990 sqft Built 1984

$350,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $175.88
  • 3 Days on Market
  • MLS # : 14528437
  • Updated Date : 03/12/2021 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,990 sqft
  • Baths : 2 full , 1 half
Listing Agent

Infinity Realty Partners

Listing Agent's Description

Plano ISD! Do not miss out on this beautiful 1 story home, nestled in a quiet neighborhood, but still close to DNT and George Bush for easy commuting. Huge open main living, with brick fireplace that connects to an amazing reading room complete with built-ins and skylights. Directly off the reading room is the covered patio and yard. The large eat-in kitchen includes granite countertops, tile backsplash, and stainless steel appliances. The master bedroom is spacious with its own dedicated fireplace. The master bathroom is very large with separate sinks, a large jetted tub, and separate shower. There are many walking trails along the neighborhood pond, perfect for a morning or evening stroll.

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Mitchell Elementary School Primary Regular 698 55 6
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Mitchell Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 55
6
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,216
Property Tax -$691
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$58

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,194

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0503$2,0904$2,0955$2,295
$2,295
RENT COMPS ANALYSIS
  • 4123 Lawngate Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,990 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.05
    •  
  • 4223 Lawngate Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1984
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.13
    •  
  • 4012 Timberglen Road Dallas, TX 2
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1997
    property image
    LEASED 02/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.11
    •  
  • 4115 Kirkmeadow Lane Dallas, TX 4
    • 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,042 Sqft ∙ Built 1992
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 4308 N Capistrano Drive Dallas, TX 5
    • 3 beds 3 baths ∙ 2,015 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,015 Sqft ∙ Built 1988
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.14
    •  
PROPERTY LISTING DETAILS
Nicholas Leamon
Infinity Realty Partners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528437
Last Updated: 03/12/2021
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