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504 Briarcrest Drive Burleson, TX 76028

4 Beds 4 Baths 3,122 sqft Built 1997

$289,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $92.57
  • 2 Days on Market
  • MLS # : 14458206
  • Updated Date : 11/07/2020 at 16:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,122 sqft
  • Baths : 3 full , 1 half
Listing Agent

Essence V. Real Estate & Assoc

Listing Agent's Description

Large, Stunning home located in the sought after Lakewood addition of Mountain Valley includes access to golfing, pool, fishing ponds, playground, trails, and so much more! Located in a cul-de-sac this 4bed 3.5bath home has enough space for everyone. A formal living and dining area lead thru your butler's pantry to a bright kitchen with soaring wood cabinets, extended breakfast bar, and eat-in dining. Double-height windows fill the main living area with natural light. Master suite and .5bath downstairs, 3beds 2full baths (1 en-suite, 1 jack and jill) and extra living area upstairs with catwalk that overlooks downstairs living. Hone is being sold As-Is. Seller offering $7,000 concession with appropriate offer

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

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
North Joshua Elementary School Primary Regular 581 38 9
North Joshua Elementary School Middle Regular 581 38 9
Joshua Ninth Grade Campus High Regular 391 29 7

North Joshua Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

North Joshua Elementary School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,066
Property Tax -$693
Property Insurance -$208
HOA -$38
Property Management Fees -$99
CASH FLOW
$47

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.

$289,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$17,574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,279

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,1403$2,1504$2,500
$2,500
RENT COMPS ANALYSIS
  • 504 Briarcrest Drive Burleson, TX 3
    • 4 beds 4 baths ∙ 3,122 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,122 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.69
    •  
  • 2517 Buffalo Run Burleson, TX 1
    • 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,223 Sqft ∙ Built 2004
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.59
    •  
  • 1749 Colorado Drive Burleson, TX 2
    • 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,916 Sqft ∙ Built 2006
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.73
    •  
  • 429 Delaware Street Burleson, TX 4
    • 4 beds 3 baths ∙ 2,881 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,881 Sqft ∙ Built 2015
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Stacie Mueller
Essence V. Real Estate & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14458206
Last Updated: 11/07/2020
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