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4866 Deere Street Dallas, TX 75204

3 Beds 3 Baths 1,974 sqft Built 2021

$589,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $298.38
  • 2 Days on Market
  • MLS # : 14509634
  • Updated Date : 01/30/2021 at 09:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,974 sqft
  • Baths : 3 full
Listing Agent

Weatherford Co

Listing Agent's Description

Proposed New construction Modern SINGLE FAMILY DETACHED Home with NO HOA. Sleek finishes, wood flooring, natural light, walkout patio from 3rd floor Master. 3 bedrooms, 3 baths with spacious study next to Master. Downtown, Uptown, Katy Trail, White Rock Lake, Lower Greenville, Knox Henderson , Central Exptressway , Dart are all close. Finish date approximately May- June 2021

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: Old East Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $88k398k

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

Neighborhood: Old East Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Cesar Chavez Learning Center Primary Regular 676 44 4
Alex W. Spence Talented - Gifted Academy Middle Magnet 914 69 5
North Dallas High School High Regular 1,212 82 2

Cesar Chavez Learning Center

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 44
4
GreatSchools Rating

Alex W. Spence Talented - Gifted Academy

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 69
5
GreatSchools Rating

North Dallas High School

  • Education Level: High
  • # of students: 1,212
  • # of teachers: 82
2
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$2,046
Property Tax -$1,397
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
-$663

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$589,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,085

INVESTMENT

$158,085

Down Payment
$147,250
Rehab Estimate
$2,000
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.53

    LIST RENT PER SQFT
  • $3,015

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0203$3,3004$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 4866 Deere Street Dallas, TX 2
    • 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.53
    •  
  • 5033 Mission Avenue Dallas, TX 1
    • 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2005
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.42
    •  
  • 5170 Garrett Stream Court Dallas, TX 3
    • 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,033 Sqft ∙ Built 2015
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.62
    •  
  • 5031 Manett Street Dallas, TX 4
    • 3 beds 3 baths ∙ 2,308 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,308 Sqft ∙ Built 2007
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.52
    •  
  • 6020 Chimera Court Dallas, TX 5
    • 3 beds 4 baths ∙ 2,316 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,316 Sqft ∙ Built 2015
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.55
    •  
PROPERTY LISTING DETAILS
Mark Weatherford
Weatherford Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509634
Last Updated: 01/30/2021
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