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485 Harding Lane Lavon, TX 75166

3 Beds 2 Baths 1,859 sqft Built 2015

$259,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $139.32
  • 4 Days on Market
  • MLS # : 14529301
  • Updated Date : 03/19/2021 at 23:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Linwood Realty, Llc

Listing Agent's Description

Welcome home! Move-in ready 1 story in a great master-planned community, with resort-style pool, waterslide, splash pad, and wading pool amenity center. This gorgeous home boasts granite countertops, a separate shower, tub, and a large walk-in closet. Secondary bedrooms are split from the master. The oversized garage has a side area for a workbench or fridge. Minutes from Lake Lavon. It's time to put down new roots. MULTIPLE OFFERS RECEIVED. Taking offers till 5 pm on Sunday, March 21st.

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

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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$900
Property Tax -$497
Property Insurance -$135
HOA -$67
Property Management Fees -$99
CASH FLOW
$23

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.

$259,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.66%

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$900k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7204$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 485 Harding Lane Lavon, TX 3
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.93
    •  
  • 514 Lincoln Avenue Lavon, TX 1
    • 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006
    property image
    LEASED 01/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 536 Lincoln Avenue Lavon, TX 2
    • 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,768 Sqft ∙ Built 2006
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 779 Fannin Drive Lavon, TX 4
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 266 Houston Street Lavon, TX 5
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2007
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jonathan Root
Linwood Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529301
Last Updated: 03/19/2021
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