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5009 W Fall Drive Midlothian, TX 76065

6 Beds 4 Baths 3,804 sqft Built 2014

$345,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $90.69
  • 4 Days on Market
  • MLS # : 14502624
  • Updated Date : 01/21/2021 at 16:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,804 sqft
  • Baths : 4 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful 6 bedrooms, 4 baths home in Midlothian ISD. Open plan filled with natural light, formal dining, and an abundance of space. Kitchen opens to the family room perfect for entertaining family and friends. Equipped with smooth top electric range, center island with space for additional seating, granite countertops, and ample cabinetry for storage. Spacious primary en suite with dual vanities, garden tub, separate shower, and walk-in closet. Upstairs features a media room with an additional living area perfect for a game room. Large private backyard with covered patio ready for activities. Great neighborhood with access to the community pool, local park, elementary school, and pond PRICED FOR A QUICK SALE

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: The Rosebud

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: The Rosebud

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262357

* 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
Mt. Peak Elementary School Primary Regular 706 43 6
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Mt. Peak Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
6
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,198
Property Tax -$753
Property Insurance -$247
HOA -$32
Property Management Fees -$99
CASH FLOW
$211

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.

$345,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$31,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,840

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,540
1$2,5402$2,6003$2,7004$2,900
$2,900
RENT COMPS ANALYSIS
  • 5009 W Fall Drive Midlothian, TX 1
    • 6 beds 4 baths ∙ 3,804 Sqft ∙ Built 2014 6 beds 4 baths ∙ 3,804 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.67
    •  
  • 5001 Charisma Drive Midlothian, TX 2
    • 5 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,500 Sqft ∙ Built 2005
    LEASED 08/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.74
    •  
  • 5226 Charisma Drive Midlothian, TX 3
    • 5 beds 4 baths ∙ 3,576 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,576 Sqft ∙ Built 2004
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.76
    •  
  • 5425 Old Blush Drive Midlothian, TX 4
    • 5 beds 4 baths ∙ 3,924 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,924 Sqft ∙ Built 2005
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.74
    •  
PROPERTY LISTING DETAILS
Nancy Granby
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502624
Last Updated: 01/21/2021
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