Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

421 Summertree Lane Desoto, TX 75115

4 Beds 3 Baths 2,640 sqft Built 1995

$280,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $106.06
  • 5 Days on Market
  • MLS # : 14461477
  • Updated Date : 10/30/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,640 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Great place to call home. This wonderful single-story home includes a spacious floor plan featuring 4 bedrooms and 3 full baths, crown molding and vaulted ceilings. The kitchen has eat-in dining which overlooks the large living room with a cozy fireplace. There are also formal dining and living rooms for entertaining. Plenty of upgrades throughout including granite counters in the kitchen, fresh paint and new carpet. MOVE-IN ready. Quick access to highways, parks and schools. Come check it out!

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

Neighborhood: Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451822

* 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
Woodridge Elementary School Primary Regular 691 41 3
Desoto East Middle School Middle Regular 687 43 3

Woodridge Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 41
3
GreatSchools Rating

Desoto East Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 43
3
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,033
Property Tax -$669
Property Insurance -$180
Property Management Fees -$99
CASH FLOW
-$161

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.

$280,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,291

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7493$1,7954$1,8205$1,875
$1,875
RENT COMPS ANALYSIS
  • 421 Summertree Lane Desoto, TX 4
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.69
    •  
  • 704 Inglewood Trail Desoto, TX 1
    • 3 beds 3 baths ∙ 2,582 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,582 Sqft ∙ Built 1989
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.67
    •  
  • 749 Horseshoe Court Desoto, TX 2
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 2006
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.66
    •  
  • 773 Eldorado Drive Desoto, TX 3
    • 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,633 Sqft ∙ Built 2006
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 553 Wendy Lane Desoto, TX 5
    • 4 beds 2 baths ∙ 2,610 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,610 Sqft ∙ Built 1999
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.72
    •  
PROPERTY LISTING DETAILS
Gwen Jackson
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 #: 14461477
Last Updated: 10/30/2020
BESbswy