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5024 Lacy Lane Greenville, TX 75402

4 Beds 2 Baths 2,192 sqft Built 1980

$264,500

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $120.67
  • 3 Days on Market
  • MLS # : 14466617
  • Updated Date : 11/06/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,192 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

This well maintained home in an established neighborhood offers a beautiful tree covered, oversized lot (.72), backing to a 23 acre museum & 15 acre private track, privacy is yours! This home boasts 2 substantial living spaces 1 dn featuring a cozy Wood burning FP with gas logs & gas start & 1 up offering a Rooftop deck to enjoy the views. A spacious Master with a giant(11x13) closet. Galley kitchen has double convection ovens, gas cooktop, trash compactor, Dishwasher, tile backsplash & Granite counters. Luxury vinyl plank flooring through most of the 1st flr, 3 sizable upstairs bedrooms, Covered back porch, Oversized Garage, Fabulous location near Wright Park Municipal Golf Course. Paradise can be yours!

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

Zip Code: 75402

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $68k243k

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

Zip Code: 75402

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Lamar Elementary School Primary Regular 594 39 5
Greenville Middle School Middle Regular 687 46 5
Greenville High School High Regular 1,077 89 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 39
5
GreatSchools Rating

Greenville Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 46
5
GreatSchools Rating

Greenville High School

  • Education Level: High
  • # of students: 1,077
  • # of teachers: 89
5
GreatSchools Rating
 

$238,050$290,950$264,500

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$976
Property Tax -$595
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
-$333

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.

$264,500

PROJECTED PRICE

$1,490

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,843

INVESTMENT

$75,843

Down Payment
$66,125
Rehab Estimate
$5,750
Closing Costs
$3,968

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$976

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,125
Loan Amount $198,375
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$92

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,447

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3953$1,4904$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 5024 Lacy Lane Greenville, TX 3
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.68
    •  
  • 50006 Jack Finney Boulevard Greenville, TX 1
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 1965
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.64
    •  
  • 5308 Kayway Drive Greenville, TX 2
    • 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,070 Sqft ∙ Built 1960
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.67
    •  
  • 6304 Buena Vista Drive Greenville, TX 4
    • 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1974
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.68
    •  
  • 2400 Park Street Greenville, TX 5
    • 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 1965 3 beds 2 baths ∙ 2,313 Sqft ∙ Built 1965
    LEASED 12/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.65
    •  
PROPERTY LISTING DETAILS
Susan Zachary
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466617
Last Updated: 11/06/2020
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