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516 Highfield Lane Keller, TX 76248

4 Beds 2 Baths 2,301 sqft Built 2009

$390,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $169.49
  • 5 Days on Market
  • MLS # : 14462681
  • Updated Date : 10/30/2020 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,301 sqft
  • Baths : 2 full
Listing Agent

It's Closing Time Realty

Listing Agent's Description

This is a must see property! Bring your pickiest of buyers to see this one. This floor plan offers a great layout for big or small families. The flex room can be used for a sitting area or perhaps another bedroom or an office. The kitchen opens to the formal dining and living area making this a great spot for entertaining your guests. The home has been very well taken care of and it shows inside and outside. New Lennox, HVAC and Lennox Forced Air Furnace Replaced March 2019. Come see it!!!

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: 76248

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76248

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262728

* 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
Bear Creek Intermediate School Primary Regular 781 42 9
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Bear Creek Intermediate School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$351,000$429,000$390,000

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 -$1,439
Property Tax -$818
Property Insurance -$160
HOA -$71
Property Management Fees -$99
CASH FLOW
-$17

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.

$390,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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-$5.0k$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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$19,255

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
  • $1.12

    LIST RENT PER SQFT
  • $2,307

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$2,0454$2,3995$2,570
$2,570
RENT COMPS ANALYSIS
  • 516 Highfield Lane Keller, TX 5
    • 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,301 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $1.12
    •  
  • 4732 Meadow Green Trail Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,031 Sqft ∙ Built 2015
    property image
    LEASED 06/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 4924 Lazy Oaks Street Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2015
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
  • 4812 Lazy Oaks Street Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2014
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $1.01
    •  
  • 12828 Coast Way Fort Worth, TX 4
    • 4 beds 4 baths ∙ 2,281 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,281 Sqft ∙ Built 2017
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $1.05
    •  
PROPERTY LISTING DETAILS
Justin Zamarippa
It's Closing Time Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462681
Last Updated: 10/30/2020
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