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441 Peach Lane Burleson, TX 76028

4 Beds 2 Baths 2,023 sqft Built 2014

$277,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $136.93
  • 2 Days on Market
  • MLS # : 14472977
  • Updated Date : 11/28/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,023 sqft
  • Baths : 2 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Spacious home in a fabulous neighborhood complete with parks, sidewalks, walking trails & large swimming pool. Home features a great layout with split bedrooms and open kitchen and living area. Formal dining can be used for office, second living area or playroom for the kiddos. Cozy breakfast nook in kitchen with bench seat window. Spacious kitchen with walk in pantry, granite countertops, gas range and island. Master bedroom is large enough for your biggest furniture with a roomy master bath, separate shower, two sinks and walk in closet. Backyard is complete with plush grass, storage bldg, extended back porch with pergola and wood privacy fence. Backs to open greenbelt. Home is also for lease.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261996

* 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
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$249,300$304,700$277,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,022
Property Tax -$692
Property Insurance -$144
HOA -$25
Property Management Fees -$99
CASH FLOW
-$142

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$277,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,155

INVESTMENT

$79,155

Down Payment
$69,250
Rehab Estimate
$5,750
Closing Costs
$4,155

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,250
Loan Amount $207,750
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6454$1,7505$1,840
$1,840
RENT COMPS ANALYSIS
  • 441 Peach Lane Burleson, TX 5
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.91
    •  
  • 333 Daisy Lane Burleson, TX 1
    • 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,944 Sqft ∙ Built 2004
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 1420 Windy Meadows Drive Burleson, TX 2
    • 4 beds 2 baths ∙ 1,986 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,986 Sqft ∙ Built 2004
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 937 Mesa Vista Drive Crowley, TX 3
    • 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,130 Sqft ∙ Built 2006
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.77
    •  
  • 1321 Highcrest Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2004
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Janis Lange
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472977
Last Updated: 11/28/2020
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