Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

413 Ashlawn Drive Midlothian, TX 76065

4 Beds 2 Baths 2,264 sqft Built 2017

INVESTimate

$350,000

List Price

$2,120

$1,908 - $2,332

Rent Est.

$376,740  ( +7.64%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $154.59
  • 9 Days on Market
  • MLS # : 14413755
  • Updated Date : 08/20/2020 at 11:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,264 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Gorgeous 4 bedroom home located in the highly sought after Lawson Farms community! This home will blow you away with all the custom wood work throughout from crown moldings to ceiling work, custom beams, and cased in windows and doors. Perfect for entertaining with open concept kitchen and living areas. Beautiful kitchen with granite countertops, island bar, and lovely custom touches like the built in breakfast nook. Decorative tray ceiling in living area enhances the elegance and charm of this home. Primary suite boasts of soaking tub, separate tile shower, and walk in closet. Enjoy the covered patio in the backyard or make a splash at the community pool. This is the perfect home to make memories in!

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: Lawson Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lawson Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262242

* 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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,291
Property Tax -$764
Property Insurance -$158
HOA -$61
Property Management Fees -$99
CASH FLOW
-$253

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.

$350,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.64%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

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 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,954

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,258

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1203$2,4504$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 413 Ashlawn Drive Midlothian, TX 2
    • 4 beds 2 baths ∙ 2,264 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,264 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.94
    •  
  • 3202 Meadow Ridge Drive Midlothian, TX 1
    • 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 2014
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.97
    •  
  • 2621 Byrd Ranch Road Midlothian, TX 3
    • 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 2018
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.05
    •  
  • 405 Brook Meadow Drive Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,614 Sqft ∙ Built 2017
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 3457 Brighton Drive Midlothian, TX 5
    • 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017
    property image
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Dennis Tuttle
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413755
Last Updated: 08/20/2020
BESbswy