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

4470 Sir Lancelot Circle Midlothian, TX 76065

3 Beds 2 Baths 1,741 sqft Built 1981

$278,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $159.68
  • 4 Days on Market
  • MLS # : 14490517
  • Updated Date : 01/01/2021 at 11:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full
Listing Agent

Texas Trust Realty, Llc

Listing Agent's Description

Spacious, rural living on nearly an acre, NO HOA! This 3 bedroom 2 bath vintage beauty features refurbished original hardwood floors and new carpet. Cozy living room with wet bar and wood-burning fireplace. Dining room with custom built-in wooden cabinets, and ornate chandelier. Kitchen has plentiful storage and prep space, with stainless steel appliances; Refrigerator conveys with the property. Utility room off of the kitchen next to the two-car garage. Take your guests outback to enjoy the covered patio. Property includes an outdoor shed with built in shelves- Great for an additional garage and workshop! Roof was replaced in 2019. Location qualifies for 100% USDA financing with No down payment!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Camelot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $114k275k

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

Neighborhood: Camelot Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11072063

* 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
 

$250,200$305,800$278,000

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 -$1,026
Property Tax -$607
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$19

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.

$278,000

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) 7.6%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,473

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
  • $1.06

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8403$2,325
$2,325
RENT COMPS ANALYSIS
  • 4470 Sir Lancelot Circle Midlothian, TX 2
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $1.06
    •  
  • 1421 Tahoe Lane Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1980
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
  • 1140 High Point Drive Midlothian, TX 3
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 2000
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.12
    •  
PROPERTY LISTING DETAILS
Kimberly Shaw
Texas Trust Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490517
Last Updated: 01/01/2021
BESbswy