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495 Jefferson Lane Lake Dallas, TX 75065

3 Beds 2 Baths 2,162 sqft Built 2007

$290,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $134.14
  • 2 Days on Market
  • MLS # : 14473527
  • Updated Date : 11/21/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,162 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Beautifully maintained 1 story, traditional home. Fabulous floor plan. 3 bdms, 2 baths, formal dining rm, and office has custom barn doors. The family rm has an inviting gas log fireplace. Natural light, from skylights in the large entry and rotunda, warmly welcomes your guests. Skylights have built-in lights creating great night time ambience. Kitchen has a skylight, SS appliances, glass cooktop, water filtration & softener, pantry, and Silestone counters. Main bedroom suite with tub separate from shower, custom barn doors, dble sinks, and walk in closet. Smart Home, Z-Wave compatible light switches. Garage is climate controlled, has epoxy flooring, tv, wall vacuum, and workbench.

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: Oaks at North Lakeview

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k260k

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

Neighborhood: Oaks at North Lakeview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8871834

* 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
Lake Dallas Elementary School Primary Regular 721 47 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Lake Dallas Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 47
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$261,000$319,000$290,000

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 -$1,070
Property Tax -$618
Property Insurance -$152
HOA -$21
Property Management Fees -$99
CASH FLOW
-$240

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.

$290,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,801

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
  • $0.8

    LIST RENT PER SQFT
  • $1,908

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7493$1,7504$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 495 Jefferson Lane Lake Dallas, TX 1
    • 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,162 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.80
    •  
  • 513 Jefferson Lane Lake Dallas, TX 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.96
    •  
  • 512 Grayson Lane Lake Dallas, TX 3
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2006
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 731 Black Walnut Drive Lake Dallas, TX 4
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1997
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 511 Jefferson Lane Lake Dallas, TX 5
    • 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,951 Sqft ∙ Built 2007
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.91
    •  
PROPERTY LISTING DETAILS
Benetta Robbins
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473527
Last Updated: 11/21/2020
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