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511 Betchan Street Lake Dallas, TX 75065

4 Beds 2 Baths 1,892 sqft Built 2020

INVESTimate

$339,900

List Price

$2,070

$1,863 - $2,277

Rent Est.

$371,375  ( +9.26%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $179.65
  • 2 Days on Market
  • MLS # : 14419403
  • Updated Date : 08/24/2020 at 21:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Dmd Realty, Llc

Listing Agent's Description

Beautiful NEW CUSTOM Craftsman 1 STORY on large lot, blocks from Lakeview Marina on Lake Lewisville. High Efficiency 100% FOAM INSULATED! Elegant kitchen with huge island, upgraded 42 inch bead board cabinets, stainless appliances & granite counters. Open to large family room with corner fireplace, stone surround & reclaimed timber mantel. Family & Master offer 12 foot ceilings, crown moulding, numerous windows highlight backyard with covered patio & 6' fence. Master suite has barn door to private bath with large walk in tiled shower, separate freestanding tub and dual sinks; split bedrooms for privacy! Garage over-sized fits full size truck or SUV. Estimated completion October 2020

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: 75065

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k253k

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

Zip Code: 75065

ZipNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8871817

* 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
Lake Dallas Elementary School Primary Regular 721 47 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Lake Dallas Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 47
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,254
Property Tax -$724
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$144

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$339,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.26%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,074

INVESTMENT

$92,074

Down Payment
$84,975
Rehab Estimate
$2,000
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7253$2,0704$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 511 Betchan Street Lake Dallas, TX 3
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.09
    •  
  • 517 Highpark Court Lake Dallas, TX 1
    • 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 2013
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.10
    •  
  • 617 Grayson Lane Lake Dallas, TX 2
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2009
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
  • 147 Nix Drive Hickory Creek, TX 4
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2019
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.12
    •  
  • 122 Nix Drive Hickory Creek, TX 5
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2019
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
PROPERTY LISTING DETAILS
Teresa Perry
Dmd Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419403
Last Updated: 08/24/2020
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