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5 Cavendish Court Dallas, TX 75225

3 Beds 4 Baths 2,874 sqft Built 1983

$679,000

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $236.26
  • 3 Days on Market
  • MLS # : 14498761
  • Updated Date : 01/22/2021 at 16:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,874 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dave Perry Miller Real Estate

Listing Agent's Description

Coveted one story home in the exclusive Lane Park Community is located on a quiet, tree lined cul de sac. Gracious, welcoming entry open to the spacious living room with wet bar, fireplace, beamed ceiling and plantation shutters. Light and bright home with lots of large windows and atrium doors leading to the pool and patio. Two en suite bedrooms and a half bath are in the front of the home. Large, private Primary Suite overlooks the pool and offers room for a sitting area. Sub Zero refrigerator, granite counters and many cabinets for storage are the kitchen highlights. Conveniently located near NorthPark, restaurants and entertainment.

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: Lane Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700k750k800kPrice in $102k815k

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

Neighborhood: Lane Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000150020002500300035004000Rent in $9474115

* 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
Preston Hollow Elementary School Primary Regular 463 34 8
Benjamin Franklin Middle School Middle Regular 1,040 64 3
Hillcrest High School High Regular 1,247 78 5

Preston Hollow Elementary School

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 34
8
GreatSchools Rating

Benjamin Franklin Middle School

  • Education Level: Middle
  • # of students: 1,040
  • # of teachers: 64
3
GreatSchools Rating

Hillcrest High School

  • Education Level: High
  • # of students: 1,247
  • # of teachers: 78
5
GreatSchools Rating
 

$611,100$746,900$679,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$2,358
Property Tax -$1,657
Property Insurance -$193
HOA -$142
Property Management Fees -$99
CASH FLOW
-$790

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.

$679,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,685

INVESTMENT

$185,685

Down Payment
$169,750
Rehab Estimate
$5,750
Closing Costs
$10,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,358

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,750
Loan Amount $509,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,660

    LIST RENT
  • $1.27

    LIST RENT PER SQFT
  • $4,879

    COMP ESTIMATED VALUE
  • $1.7

    COMP AVG. RENT PER SQFT
Comps Range
$3,660
1$3,6602$4,4003$4,4954$4,5005$4,995
$4,995
RENT COMPS ANALYSIS
  • 5 Cavendish Court Dallas, TX 1
    • 3 beds 4 baths ∙ 2,874 Sqft ∙ Built 1983 3 beds 4 baths ∙ 2,874 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,660
    • $1.27
    •  
  • 7130 Mimosa Lane Dallas, TX 2
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 1964
    property image
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.70
    •  
  • 7154 Stonetrail Dallas, TX 3
    • 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,557 Sqft ∙ Built 1966
    property image
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,495
    • $1.76
    •  
  • 6950 Joyce Way Dallas, TX 4
    • 3 beds 3 baths ∙ 2,926 Sqft ∙ Built 1967 3 beds 3 baths ∙ 2,926 Sqft ∙ Built 1967
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.54
    •  
  • 7026 Woodland Dallas, TX 5
    • 3 beds 4 baths ∙ 2,794 Sqft ∙ Built 1981 3 beds 4 baths ∙ 2,794 Sqft ∙ Built 1981
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,995
    • $1.79
    •  
PROPERTY LISTING DETAILS
Sheri Pizitz
Dave Perry Miller Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498761
Last Updated: 01/22/2021
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