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4621 Silverthorn Drive Mesquite, TX 75150

3 Beds 2 Baths 2,042 sqft Built 1984

$269,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $132.17
  • 2 Days on Market
  • MLS # : 14528185
  • Updated Date : 03/06/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,042 sqft
  • Baths : 2 full
Listing Agent

Premier Legacy Real Estate Llc

Listing Agent's Description

This lovely corner home sits in one of Mesquite's premier neighborhoods and has been well maintained by the current owners. A place where you feel comfortable walking in and plenty of room to entertain both inside and in the back yard. Beautiful view outside from spacious kitchen windows. Roof is about 4 years old, new hot water heater, outside was recently painted with HVAC regularly serviced. Neighborhood is very connected and has a fun 4th of July Parade each year. Ready for a new family to come build new memories!

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: Meadowview Farms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k248k

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

Neighborhood: Meadowview Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701773

* 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
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$937
Property Tax -$655
Property Insurance -$145
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 14% of earned rent to cover both maintenance and periods of vacancy.

$269,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.9%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7253$1,7904$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 4621 Silverthorn Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.88
    •  
  • 1124 Siebold Court Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1980
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
  • 1008 Brownfield Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1981
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.92
    •  
  • 520 Via Avenida Mesquite, TX 4
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1976 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 1976
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 3923 Farrington Street Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 1981
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Bruce Archer
Premier Legacy Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528185
Last Updated: 03/06/2021
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