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508 Thistle Meade Circle Burleson, TX 76028

3 Beds 2 Baths 1,698 sqft Built 2003

$238,500

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $140.46
  • 2 Days on Market
  • MLS # : 14501199
  • Updated Date : 01/16/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,698 sqft
  • Baths : 2 full
Listing Agent

Keller Williams-johnson County

Listing Agent's Description

Adorable, spacious and perfect starter home or downsizing family. This cutie has a flowing floorplan complete with large living area, split bedrooms, formal dining or bonus area, farmhouse touches add a popular flare and a fantastic sized back yard make this home. NEW AC unit, barn wood vinyl flooring and shiplap are a few of the updates completed, yet the home has room for you to add your personal touches. HOMES IN THIS PRICE RANGE DO NOT LAST LONG. Located in a highly desirable area and school district; close to shopping and dining. Enjoy coffee on one of the covered porches, sit cozied up by the fireplace, or entertain friends family inside and out. Make this your new home, today, before it also gets away!

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: Vinewood West

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Neighborhood: Vinewood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Clinkscale Elementary School Primary Regular 589 37 7
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

Clinkscale Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 37
7
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

$214,650$262,350$238,500

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$828
Property Tax -$572
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$184

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.

$238,500

PROJECTED PRICE

$1,440

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,953

INVESTMENT

$68,953

Down Payment
$59,625
Rehab Estimate
$5,750
Closing Costs
$3,578

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$828

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,625
Loan Amount $178,875
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,129

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4404$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 508 Thistle Meade Circle Burleson, TX 3
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.85
    •  
  • 254 Vaden Avenue Burleson, TX 1
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2001
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.94
    •  
  • 271 Vaden Avenue Burleson, TX 2
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2000
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 1009 Winepress Road Burleson, TX 4
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2005
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 1006 Thistle Meade Circle Burleson, TX 5
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 2004
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Regina Hoover
Keller Williams-johnson County
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501199
Last Updated: 01/16/2021
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