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413 Rainier Street Cedar Hill, TX 75104

3 Beds 2 Baths 1,512 sqft Built 1983

$185,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $122.35
  • 2 Days on Market
  • MLS # : 14485320
  • Updated Date : 12/11/2020 at 20:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Monument Realty

Listing Agent's Description

This recently updated home is perfect for an investor or a first time buyer looking to start their new chapter. It is conveniently located near Cedar Hill's best shopping, restaurants and outdoor attractions such as Joe Pool Lake and Cedar Ridge Preserve. There is fresh paint throughout, all new light fixtures and new carpet in the bedrooms. The cozy living area has a wood burning fireplace and opens into the bright, spacious kitchen. Retreat to the primary bedroom and enjoy your updated bathroom and brand new tub. This affordable home is just what you're looking for to make new memories!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8971740

* 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
Highlands Elementary School Primary Regular 599 30 4
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Highlands Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 30
4
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$683
Property Tax -$421
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$223

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.

$185,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.0%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$31,172

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,5754$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 413 Rainier Street Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.02
    •  
  • 443 Mckinley Street Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1981
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 404 Whitney Street Cedar Hill, TX 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1982
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.04
    •  
  • 443 Whitney Street Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 411 Mckinley Street Cedar Hill, TX 5
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1982
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Surafel Elias
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485320
Last Updated: 12/11/2020
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