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4205 Wayfaring Street Mesquite, TX 75150

4 Beds 2 Baths 1,984 sqft Built 1980

$261,500

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $131.80
  • 6 Days on Market
  • MLS # : 14472563
  • Updated Date : 11/19/2020 at 08:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,984 sqft
  • Baths : 2 full
Listing Agent

Listing Spark

Listing Agent's Description

Beautifully updated and move-in ready home with open floor plan. Property is located on a medium size lot with a new fenced (cedar)-in backyard for all outdoor activities, and a nice size storage shed (96 sq. ft.) for additional outside storage space. New kitchen showcases custom white cabinets, drawers and hardware, granite countertops, center island, and new stainless-steel appliances (range or oven, dishwasher, microwave oven). Bathrooms are updated with ceramic tile flooring, decorative tile in shower and bathtub areas, decorative mirrors and light fixtures, and custom vanities with granite countertops. Laminate floors and custom lighting throughout house. Custom built solar screens on all exterior windows.

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

Neighborhood: Stoneridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Stoneridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701739

* 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
Beasley Elementary School Primary Regular 466 29 5
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Beasley Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 29
5
GreatSchools Rating

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$235,350$287,650$261,500

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$965
Property Tax -$634
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$70

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.

$261,500

PROJECTED PRICE

$1,770

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,048

INVESTMENT

$75,048

Down Payment
$65,375
Rehab Estimate
$5,750
Closing Costs
$3,923

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$965

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,375
Loan Amount $196,125
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,7704$1,8005$1,900
$1,900
RENT COMPS ANALYSIS
  • 4205 Wayfaring Street Mesquite, TX 3
    • 4 beds 2 baths ∙ 1,984 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,984 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.89
    •  
  • 716 Via Del Sur Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1979
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 4712 Knollview Lane Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1984
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 3923 Farrington Street Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1981
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 4228 Wayfaring Mesquite, TX 5
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 1983
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472563
Last Updated: 11/19/2020
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