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425 Adelaide Drive Mesquite, TX 75149

3 Beds 2 Baths 1,769 sqft Built 1986

$250,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $141.32
  • 4 Days on Market
  • MLS # : 14470509
  • Updated Date : 11/12/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,769 sqft
  • Baths : 2 full
Listing Agent

Southern Hills Realty

Listing Agent's Description

MOVE IN READY with no HOA! Located in a mature, quiet neighborhood near highway 635, this homes comes with tons of upgrades! Walk in the front door and you see your first living space & open dining room with soaring ceilings, a fireplace and hardwood floors throughout. Your master bedroom is split & both bathrooms have been beautifully renovated. The back of the home boasts your large kitchen with granite countertops & stone backsplash, that is open to the second living area. Enjoy your backyard under the covered porch looking out to the white vinyl fencing. Some other updates include a new roof & gutters, a water softening system, new exterior paint, new hot water heater, newer windows & more!

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: Casa Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Casa Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Black Elementary School Primary Regular 608 40 3
Agnew Middle School Middle Regular 745 49 5
Mesquite High School High Regular 2,851 168 4

Black Elementary School

  • Education Level: Primary
  • # of students: 608
  • # of teachers: 40
3
GreatSchools Rating

Agnew Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 49
5
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$922
Property Tax -$606
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$177

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.

$250,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 15.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,021

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,579

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5804$1,5955$1,695
$1,695
RENT COMPS ANALYSIS
  • 425 Adelaide Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.89
    •  
  • 403 Barton Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1986
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 1428 Regent Street Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1986
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 1618 Rancho Drive Mesquite, TX 4
    • 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,752 Sqft ∙ Built 1991
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 431 Wellington Drive Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 1986
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kristen Banner
Southern Hills Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470509
Last Updated: 11/12/2020
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