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500 Onyx Court Mesquite, TX 75149

4 Beds 3 Baths 2,465 sqft Built 1998

INVESTimate

$267,000

List Price

$2,130

$1,917 - $2,343

Rent Est.

$288,173  ( +7.93%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $108.32
  • 9 Days on Market
  • MLS # : 14415863
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,465 sqft
  • Baths : 2 full , 1 half
Listing Agent

Unbundle Realty, L.l.c.

Listing Agent's Description

This spacious red brick home offers a great floor plan with master down, separate tub & shower in master bath plus double vanity & walk-in closet.1st story features a large kitchen with eat-in kitchen open to living room & study. 2nd story offers an oversized game room with three generously sized rooms! Backyard has endless possibilities with large grassy area, covered patio, green house, & storage shed!

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: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Parkview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9701986

* 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
Shaw Elementary School Primary Regular 851 48 4
Agnew Middle School Middle Regular 745 49 5
Mesquite High School High Regular 2,851 168 4

Shaw Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 48
4
GreatSchools Rating

Agnew Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 49
5
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$240,300$293,700$267,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$985
Property Tax -$648
Property Insurance -$170
HOA -$41
Property Management Fees -$99
CASH FLOW
$188

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.

$267,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.93%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,505

INVESTMENT

$76,505

Down Payment
$66,750
Rehab Estimate
$5,750
Closing Costs
$4,005

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$985

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,750
Loan Amount $200,250
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$30,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,997

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$2,130
$2,130
RENT COMPS ANALYSIS
  • 500 Onyx Court Mesquite, TX 3
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.86
    •  
  • 1104 Parkwood Trail Mesquite, TX 1
    • 3 beds 2 baths ∙ 2,239 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,239 Sqft ∙ Built 1998
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 1710 Hillwood Drive Mesquite, TX 2
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 1996
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jordan Taylor
Unbundle Realty, L.l.c.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415863
Last Updated: 08/19/2020
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