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414 Dalroy Drive Midlothian, TX 76065

4 Beds 2 Baths 2,405 sqft Built 2021

$323,005

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $134.31
  • 6 Days on Market
  • MLS # : 14459861
  • Updated Date : 10/29/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,405 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

BEAUTIFUL NEW 4 BEDROOM HOME WITH STUDY & MUD ROOM by D.R. HORTON in MIDLOTHIAN'S EXCITING NEW PHASE of COVENTRY CROSSING!~The Lampasas floorplan (Elevation B)~Estimated January completion*Lrg Gourmet Kitchen with Breakfast Bar Island,Granite Countertops,Built-in Stainless Steel Appliances,42 inch upper cabinets,Butlers & w-I Pantry opens to spacious Living area*Lrg Primary Bedroom with over sized shower,dual Sink vanity & big walk-in Closet*Designer Package with tiled Entry,Hallways & wet areas*Home is Connected Smart Home Technology*Covered back Patio,Landscape Package,Full Sprinkler System & much more!*COMMUNITY POOL,PLAYGROUND & WALKING TRAILS!*Great location near Shops,Dining,Joe Pool Lake & HWYs 287 & 67

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mt. Peak Elementary School Primary Regular 706 43 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Mt. Peak Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
6
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
 

$290,705$355,306$323,005

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,192
Property Tax -$705
Property Insurance -$166
HOA -$54
Property Management Fees -$99
CASH FLOW
$234

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$323,005

PROJECTED PRICE

$2,450

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$87,596

INVESTMENT

$87,596

Down Payment
$80,751
Rehab Estimate
$2,000
Closing Costs
$4,845

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,192

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,751
Loan Amount $242,254
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$43,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,453

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3953$2,4504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 414 Dalroy Drive Midlothian, TX 4
    • 4 beds 2 baths ∙ 2,405 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,405 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.02
    •  
  • 461 Bentley Drive Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2016
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
  • 5422 Leander Way Midlothian, TX 2
    • 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.00
    •  
  • 430 Calvert Drive Midlothian, TX 3
    • 4 beds 2 baths ∙ 2,363 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,363 Sqft ∙ Built 2015
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.04
    •  
  • 405 Calvert Drive Midlothian, TX 5
    • 4 beds 4 baths ∙ 2,499 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,499 Sqft ∙ Built 2017
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459861
Last Updated: 10/29/2020
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