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438 Tranquility Lane Cedar Hill, TX 75104

3 Beds 2 Baths 1,670 sqft Built 2000

$260,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $155.69
  • 4 Days on Market
  • MLS # : 14539289
  • Updated Date : 03/24/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,670 sqft
  • Baths : 2 full
Listing Agent

Jpar Arlington

Listing Agent's Description

Open House Friday March 26, 6-8pm. Beautiful one story home located near Highway 67 in Cedar Hill. Home has patio that can be accessed from eat in Kitchen or Master Bedroom. Living room is accented by Brick Fireplace. Master bedroom boast custom walk in closet. Excellent opportunity to own an income producing home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Parkway Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Parkway Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9451905

* 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
Plummer Elementary School Primary Regular 521 28 5
Cedar Hill High School High Regular 1,731 105 2

Plummer Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 28
5
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$903
Property Tax -$591
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
-$127

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.

$260,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$3,250

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,5994$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 438 Tranquility Lane Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.95
    •  
  • 803 Parkside Drive Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2001
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 917 Red Oak Trail Cedar Hill, TX 3
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2003
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.92
    •  
  • 425 Leisure Drive Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2001
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 405 Tranquility Lane Cedar Hill, TX 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2000
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Michele Harris
Jpar Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539289
Last Updated: 03/24/2021
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