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511 S Silver Creek Circle Desoto, TX 75115

4 Beds 4 Baths 3,572 sqft Built 1996

$335,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $93.78
  • 2 Days on Market
  • MLS # : 14484014
  • Updated Date : 12/12/2020 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,572 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Central

Listing Agent's Description

This beautiful custom built home has so much to offer you in the desired Silver Creek Crossing community of Desoto. At 3,572 sf. the first floor open floor plan is great for entertaining. It has 4 spacious bedrooms - owners retreat and optional office or bedroom on 1st floor; 4 full baths; 3 living areas total with formals and family area on 1st floor, 2nd eating area open to kitchen and family area. The kitchen has lots of cabinet space, dual sinks, island and all of the latest amenities for the chef of the family. Up the spiral staircase to media or game room and 2 generously sized bedrooms with J and J bathroom in between. Nice-sized backyard with covered patio perfect for entertaining, pool or playset.

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: Silver Creek Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Silver Creek Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10602171

* 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
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Ruby Young Elementary School

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

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,236
Property Tax -$801
Property Insurance -$234
Property Management Fees -$99
CASH FLOW
$201

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.

$335,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$35,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,581

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,445
1$2,4452$2,4453$2,5004$2,5505$2,570
$2,570
RENT COMPS ANALYSIS
  • 511 S Silver Creek Circle Desoto, TX 5
    • 4 beds 4 baths ∙ 3,572 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,572 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.72
    •  
  • 505 Spicewood Drive Desoto, TX 1
    • 4 beds 4 baths ∙ 3,592 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,592 Sqft ∙ Built 2003
    LEASED 07/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $0.68
    •  
  • 513 Mulberry Lane Desoto, TX 2
    • 5 beds 3 baths ∙ 3,224 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,224 Sqft ∙ Built 2002
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,445
    • $0.76
    •  
  • 316 Oleander Drive Desoto, TX 3
    • 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 1412 Daventry Drive Desoto, TX 4
    • 5 beds 4 baths ∙ 3,663 Sqft ∙ Built 1996 5 beds 4 baths ∙ 3,663 Sqft ∙ Built 1996
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.70
    •  
PROPERTY LISTING DETAILS
Courtney Hubbard
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484014
Last Updated: 12/12/2020
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