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4200 Rain Lilly Drive Heartland, TX 75126

3 Beds 3 Baths 1,888 sqft Built 2017

$244,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $129.71
  • 4 Days on Market
  • MLS # : 14465932
  • Updated Date : 11/05/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,888 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Proadvantage

Listing Agent's Description

Impeccably maintained 3 bed 2.5 bath with game room and covered patio. Features include Hard surface flooring throughout downstairs except for master bedroom, granite in kitchen, epoxy garage floor, sprinkler system, covered back patio with ceiling fan overlooking private backyard, rounded corners, crown molding and security system. This home is located a block down from community green space and park. Amenities include community pool, jogging paths, neighborhood lake and park!

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: 75126

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75126

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
Barbara Walker Elementary School Primary Regular 585 33 4
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

Barbara Walker Elementary School

  • Education Level: Primary
  • # of students: 585
  • # of teachers: 33
4
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$904
Property Tax -$683
Property Insurance -$136
HOA -$75
Property Management Fees -$99
CASH FLOW
-$197

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.

$244,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,091

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6503$1,6754$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 4200 Rain Lilly Drive Heartland, TX 5
    • 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,888 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 1510 Warrington Forney, TX 1
    • 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,792 Sqft ∙ Built 2002
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.91
    •  
  • 4016 Red Rock Drive Heartland, TX 2
    • 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,885 Sqft ∙ Built 2006
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 2029 River Heartland, TX 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 2009
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
  • 4022 Heavenly Way Heartland, TX 4
    • 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2007
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
PROPERTY LISTING DETAILS
Anne Weiner
Re/max Proadvantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465932
Last Updated: 11/05/2020
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