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451 Long Cove Drive Fairview, TX 75069

4 Beds 3 Baths 2,631 sqft Built 2005

$554,999

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $210.95
  • 7 Days on Market
  • MLS # : 14505646
  • Updated Date : 01/29/2021 at 19:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,631 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

BEAUTIFUL GOLF COURSE PROPERTY OVERLOOKING #17 T-BOX & 17TH FAIRWAY ** LOCATED IN THE ACCLAIMED HERITAGE RANCH COMMUNITY AND WALKING DISTANCE TO HERITAGE RANCH GOLF & COUNTRY CLUB ** 3-4 BEDROOM WTTH STUDY ** STAINLESS STEEL APPLIANCES IN THE REMODELED KITCHEN ** NEW WOOD FLOORING * NEW AC ** NEW HOT WATER HEATER ** PLANTATION SHUTTERS ** ELEGANT FORMAL DINING AND MAIN BEDROOM BOTH HAVE VIEW OF 17TH HOLE OF GOLD COURSE ** GUARDED SECURITY GATE AT ENTRANCE OF COMMUNITY ** NO MUD DISTRICT, LOVEJOY ISD, NEVER FLOODED!!!

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: 75069

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $122k472k

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

Zip Code: 75069

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10122551

* 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
Puster Elementary School Primary Regular 366 26 9
Sloan Creek Intermediate School Middle Regular 679 43 10
Lovejoy High School High Regular 1,259 90 10

Puster Elementary School

  • Education Level: Primary
  • # of students: 366
  • # of teachers: 26
9
GreatSchools Rating

Sloan Creek Intermediate School

  • Education Level: Middle
  • # of students: 679
  • # of teachers: 43
10
GreatSchools Rating

Lovejoy High School

  • Education Level: High
  • # of students: 1,259
  • # of teachers: 90
10
GreatSchools Rating
 

$499,499$610,499$554,999

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$1,928
Property Tax -$1,004
Property Insurance -$179
HOA -$135
Property Management Fees -$99
CASH FLOW
-$365

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.

$554,999

PROJECTED PRICE

$2,980

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$152,825

INVESTMENT

$152,825

Down Payment
$138,750
Rehab Estimate
$5,750
Closing Costs
$8,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,928

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $138,750
Loan Amount $416,249
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $3,280

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,9803$3,1004$3,450
$3,450
RENT COMPS ANALYSIS
  • 451 Long Cove Drive Fairview, TX 2
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.13
    •  
  • 473 Inverness Drive Fairview, TX 1
    • 3 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,631 Sqft ∙ Built 2005
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.06
    •  
  • 81 Man O War Lane Fairview, TX 3
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1985
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.34
    •  
  • 814 Barton Springs Drive Fairview, TX 4
    • 3 beds 2 baths ∙ 2,576 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,576 Sqft ∙ Built 2006
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.34
    •  
PROPERTY LISTING DETAILS
Cedric Jefferson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505646
Last Updated: 01/29/2021
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