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507 Shavano Street Desoto, TX 75115

4 Beds 4 Baths 3,390 sqft Built 2008

$360,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $106.19
  • 1 Days on Market
  • MLS # : 14532433
  • Updated Date : 03/13/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,390 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Trinity

Listing Agent's Description

Welcome to this well maintained home on over half an acre, in a quiet cul-de-sac. Prepare to walk into your dream home! Inside home provides 2 gas fireplaces, nice layout, kitchen is prepared to cook for a crowd with 2 double ovens, and offers newer appliances. Home has so much to offer for entertaining, relaxing, includes an extra 25x12 detached garage, fully fenced yard, 8 x 10 shed, tree house, with lots gorgeous decking, pergola overlooking pool, view of spring fed-Heath Creek, with the perfect view of nature. Roof and gutters are new as of 2020.

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: Summit Parks South

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $88k324k

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

Neighborhood: Summit Parks South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9452156

* 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
Ruby Young Elementary School Primary Regular 617 34 3
Desoto West Middle School Middle Regular 709 49 3

Ruby Young Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 34
3
GreatSchools Rating

Desoto West Middle School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 49
3
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,250
Property Tax -$860
Property Insurance -$223
HOA -$38
Property Management Fees -$99
CASH FLOW
-$160

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.

$360,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,322

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,3103$2,3954$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 507 Shavano Street Desoto, TX 2
    • 4 beds 4 baths ∙ 3,390 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,390 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.68
    •  
  • 224 Maplecrest Drive Desoto, TX 1
    • 5 beds 3 baths ∙ 3,292 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,292 Sqft ∙ Built 2002
    property image
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.61
    •  
  • 304 Emery Oak Court Desoto, TX 3
    • 5 beds 3 baths ∙ 3,450 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,450 Sqft ∙ Built 1998
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.69
    •  
  • 950 Marisa Lane Desoto, TX 4
    • 5 beds 4 baths ∙ 3,613 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,613 Sqft ∙ Built 2004
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.69
    •  
  • 316 Oleander Drive Desoto, TX 5
    • 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
PROPERTY LISTING DETAILS
Heather Pickens
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532433
Last Updated: 03/13/2021
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