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4216 Boxwood Drive Balch Springs, TX 75180

3 Beds 2 Baths 1,507 sqft Built 2002

$199,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $132.65
  • 2 Days on Market
  • MLS # : 14501102
  • Updated Date : 01/16/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,507 sqft
  • Baths : 2 full
Listing Agent

Darwin Homes Texas Llc

Listing Agent's Description

Cha Ching! Cash flow from Day 1 with this investment property. Rented for $1600mo through 7-31-21. $523 per mo cash flow (assumptions: 80% loan at 3.25%, 2020 taxes, $800 yr ins). These kind of turnkey investments don't come around often. See virtual tour for a 3D walk of the home before the current tenant moved in. This 3 bedroom and 2 bath home was built in 2002 and features a newly installed oven, stove, and dishwasher. Large living area with cozy fireplace. Main bedroom features tons of natural light and en suite bath.

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: Canyon Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $76k243k

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

Neighborhood: Canyon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7421734

* 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
Mackey Elementary School Primary Regular 954 60 3
Terry Middle School Middle Regular 821 52 7
John Horn High School High Regular 2,284 140 4

Mackey Elementary School

  • Education Level: Primary
  • # of students: 954
  • # of teachers: 60
3
GreatSchools Rating

Terry Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 52
7
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$694
Property Tax -$496
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
$126

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.

$199,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$17,510

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,579

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,4754$1,5305$1,830
$1,830
RENT COMPS ANALYSIS
  • 4216 Boxwood Drive Balch Springs, TX 4
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.02
    •  
  • 4717 Kristie Drive Balch Springs, TX 1
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1983
    property image
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.01
    •  
  • 14604 Pawnee Drive Balch Springs, TX 2
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1984
    property image
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 4626 Platte Drive Balch Springs, TX 3
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1984
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.10
    •  
  • 2805 Brookway Drive Mesquite, TX 5
    • 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,801 Sqft ∙ Built 1993
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.02
    •  
PROPERTY LISTING DETAILS
Timothy Hendricks
Darwin Homes Texas Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501102
Last Updated: 01/16/2021
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