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458 Coolidge Lane Lavon, TX 75166

4 Beds 2 Baths 1,748 sqft Built 2007

$230,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $131.58
  • 4 Days on Market
  • MLS # : 14507571
  • Updated Date : 01/29/2021 at 20:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,748 sqft
  • Baths : 2 full
Listing Agent

Scott Neal Real Estate

Listing Agent's Description

***MULTIPLE OFFERS*** Charming 1 story home nestled in Heritage East and within walking distance to the elementary school. This open and bright floor plan features wood floors throughout, new tile in hall bath and laundry room, fresh paint, and roof replaced in 2017. Eat-in kitchen boasts walk-in pantry and new stainless steel appliances. Owner Retreat is spacious with a linen closet, walk-in closet, fresh paint, and vanity area. The backyard offers lots of room to play, a shed, and a small patio perfect for a grill. HOA includes an amazing amenity center, pool, splash pad, parks, trails, and more!

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: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$799
Property Tax -$442
Property Insurance -$128
HOA -$67
Property Management Fees -$99
CASH FLOW
$46

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.

$230,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$13,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,5953$1,5954$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 458 Coolidge Lane Lavon, TX 1
    • 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,748 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.90
    •  
  • 590 Arthur Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 514 Lincoln Avenue Lavon, TX 3
    • 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006
    LEASED 01/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 310 San Jacinto Drive Lavon, TX 4
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2009
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 808 Austin Lane Lavon, TX 5
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Scott Neal
Scott Neal Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507571
Last Updated: 01/29/2021
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