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426 Dalroy Drive Midlothian, TX 76065

3 Beds 3 Baths 2,700 sqft Built 2020

$359,035

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $132.98
  • 7 Days on Market
  • MLS # : 14459997
  • Updated Date : 10/28/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,700 sqft
  • Baths : 3 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

HAVE A BEAUTIFUL NEW HOME BUILT BY D.R. HORTON-AMERICA'S BUILDER in MIDLOTHIAN!!~NEW PHASE & SELLING NOW IN COVENTRY CROSSING!!~COMMUNITY POOL,PLAYGROUND & WALKING TRAILS!!~Stunning two story Comal floorplan (Elevation B) 3-3-2 with Study,Formal Dining & lrg upstairs Gameroom with full Bath*Estimated December Completion*Lrg Chef's Kitchen with Seating Island,Granite CT,SS Appliances,42 inch upper cabinets & Walk-in Pantry*Split Bedrooms with lrg Primary Bedroom,over sized shower,dual Sink vanity & W-I Closet*Designer Pkg including Tiled Entry,Hallways & Wet Areas*Home is Connected Smart Home Technology,covd back Patio & more!*Great location with close proximity to HWY 287 & 360*Near Shops,Dining & Joe Pool Lake

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mt. Peak Elementary School Primary Regular 706 43 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Mt. Peak Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
6
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$323,132$394,939$359,035

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,325
Property Tax -$784
Property Insurance -$183
HOA -$54
Property Management Fees -$99
CASH FLOW
-$5

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$359,035

PROJECTED PRICE

$2,440

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$97,144

INVESTMENT

$97,144

Down Payment
$89,759
Rehab Estimate
$2,000
Closing Costs
$5,386

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,759
Loan Amount $269,276
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$18,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,448

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,440
1$2,4402$2,4503$2,4504$2,450
$2,450
RENT COMPS ANALYSIS
  • 426 Dalroy Drive Midlothian, TX 1
    • 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.90
    •  
  • 437 Bentley Drive Midlothian, TX 2
    • 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 450 Bentley Drive Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 5621 Leander Way Midlothian, TX 4
    • 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,498 Sqft ∙ Built 2006
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459997
Last Updated: 10/28/2020
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