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453 Morning Star Lane Keller, TX 76248

3 Beds 3 Baths 2,089 sqft Built 1985

$399,900

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $191.43
  • 3 Days on Market
  • MLS # : 14464237
  • Updated Date : 11/06/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,089 sqft
  • Baths : 2 full , 1 half
Listing Agent

Martin Realty Group

Listing Agent's Description

Gorgeously updated home on over half an acre in sought after Keller ISD! This beautiful property features 3 bedrooms, 2.5 baths and a flex room that could be a 4th bedroom, media or game room! The kitchen boasts stunning quartz countertops, tile backsplash and an eat-in dining space. The primary bedroom offers a private retreat with upgraded countertops and shower, large soaking tub and his and her closets. No stone left unturned with this remodel. Some of the newest updated features include new AC unit, tankless water heater, carpet, ss appliances and custom landscaping. The backyard provides an amazing escape with a large covered patio and tons of room to play or add that pool you have always wanted!

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

Neighborhood: Oak Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Oak Bend Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,475
Property Tax -$839
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
-$401

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.

$399,900

PROJECTED PRICE

$2,160

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,199

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0953$2,1604$2,2505$2,395
$2,395
RENT COMPS ANALYSIS
  • 453 Morning Star Lane Keller, TX 3
    • 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,089 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.03
    •  
  • 656 Cardinal Lane Keller, TX 1
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1998
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.07
    •  
  • 1624 Overcup Lane Keller, TX 2
    • 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,985 Sqft ∙ Built 1998
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.06
    •  
  • 745 Saint Andrews Lane Keller, TX 4
    • 4 beds 2 baths ∙ 2,222 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,222 Sqft ∙ Built 1998
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.01
    •  
  • 624 Cottonwood Trail Keller, TX 5
    • 4 beds 2 baths ∙ 2,238 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,238 Sqft ∙ Built 1997
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.07
    •  
PROPERTY LISTING DETAILS
Shana Martin
Martin Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464237
Last Updated: 11/06/2020
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