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

424 Justice Street Cedar Hill, TX 75104

4 Beds 2 Baths 1,485 sqft Built 1983

$194,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $131.25
  • 3 Days on Market
  • MLS # : 14490661
  • Updated Date : 12/25/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Rendon Realty, Llc

Listing Agent's Description

Home has been Beautifully FULLY Remodeled with modern finish out .House feature Open living area with title fire place .New Stylish Light Fixtures and ceiling fans in all BEDROOMS and Living Areas, New Front and Back Doors, Entire House Freshly Painted .New carpet in all bedrooms Granite Counter tops in kitchen .New Bathrooms ,toilets. New Kitchen Appliances . Grange has been converted to Fourth bedroom can be a second living space .

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: Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8971740

* 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
Highlands Elementary School Primary Regular 599 30 4
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Highlands Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 30
4
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$719
Property Tax -$443
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$146

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.

$194,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.0%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$23,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,533

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5204$1,5755$1,650
$1,650
RENT COMPS ANALYSIS
  • 424 Justice Street Cedar Hill, TX 3
    • 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,485 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.02
    •  
  • 493 Weaver Street Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1985
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
  • 500 Justice Street Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 404 Whitney Street Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1982
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.04
    •  
  • 443 Whitney Street Cedar Hill, TX 5
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
PROPERTY LISTING DETAILS
Suha Al-nazer
Rendon Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490661
Last Updated: 12/25/2020
BESbswy