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4200 Sir Lancelot Circle Midlothian, TX 76065

3 Beds 2 Baths 1,620 sqft Built 1980

$249,997

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $154.32
  • 3 Days on Market
  • MLS # : 14495587
  • Updated Date : 01/08/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

RARE FIND! NO HOA! 3 BED, 2 BATH, 2 CAR RANCH STYLE HOME ON PRIVATE FENCED IN CORNER LOT WITH SHOP & CARPORT IS READY FOR YOUR FAMILY TO ENJOY! FEATURES INCLUDE REAR ENTRY GARAGE WITH ELECTRIC GATE, CIRCLE DRIVE, FORMAL DINING RM, EAT IN KITCHEN, FOUR SEASONS RM, STONE FIREPLACE, SPACIOUS LIVING RM, $15K SAFE STEP HEATED & JETTED TUB IN MASTER BATH, WALK IN CLOSETS IN ALL BEDROOMS, BUILT INS & CLOSET SPACE GALORE. BACKS UP TO ACREAGE FOR MAXIMUM PRIVACY. HOME HAS BEEN SMOKED IN.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Camelot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $114k275k

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

Neighborhood: Camelot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11072063

* 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
 

$224,997$274,997$249,997

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$868
Property Tax -$546
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$86

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$249,997

PROJECTED PRICE

$1,720

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,999

INVESTMENT

$71,999

Down Payment
$62,499
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,499
Loan Amount $187,498
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$17,634

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7203$1,795
$1,795
RENT COMPS ANALYSIS
  • 4200 Sir Lancelot Circle Midlothian, TX 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.06
    •  
  • 1121 High Point Drive Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2000
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.13
    •  
  • 1421 Tahoe Lane Midlothian, TX 3
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1980
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
PROPERTY LISTING DETAILS
Mary Eubanks
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495587
Last Updated: 01/08/2021
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