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414 Rossville Drive Midlothian, TX 76065

4 Beds 2 Baths 2,260 sqft Built 2017

$329,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $145.97
  • 3 Days on Market
  • MLS # : 14474129
  • Updated Date : 11/20/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,260 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

A RARE FIND*Open concept single story with 4 ample bedrooms*Loaded with craftsmanship & style, this home features 18 inch tiled floors in entry, all walkways, & formal dining*Butler's pantry with wine chiller & builtins makes a perfect bar*Oversized 42 inch cabinets, granite countertops & island in the kitchen makes entertaining enjoyable*Huge den with FP gives you ROOM*Split master suite with shower, plus dual dressing areas makes getting dressed easy*Two bedrooms, plus a great guest bath with double sinks is found in a separate wing*Fourth bedroom with closet & French doors is being used as a study*Relax on a covered porch with stained concrete & walkways, or get cozy around the firepit*This one will not last

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

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
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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,217
Property Tax -$720
Property Insurance -$158
HOA -$33
Property Management Fees -$99
CASH FLOW
-$117

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.

$329,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.64%

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) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$8,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,277

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1103$2,3954$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 414 Rossville Drive Midlothian, TX 2
    • 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,260 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.93
    •  
  • 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
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.97
    •  
  • 5422 Leander Way Midlothian, TX 3
    • 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.00
    •  
  • 2621 Byrd Ranch Road Midlothian, TX 4
    • 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,324 Sqft ∙ Built 2018
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.05
    •  
  • 3457 Brighton Drive Midlothian, TX 5
    • 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,563 Sqft ∙ Built 2017
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jan Davis
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474129
Last Updated: 11/20/2020
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