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518 Tealwood Drive Murphy, TX 75094

4 Beds 3 Baths 3,097 sqft Built 2000

$379,850

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $122.65
  • 2 Days on Market
  • MLS # : 14465729
  • Updated Date : 11/07/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,097 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Beautiful large house with lots of room inside and out. One third acre lot with a huge backyard. All bedrooms upstairs and a big study or office with wood floors on the lower level. The game room has plenty of space for multiple activities. Enjoy morning coffee on the back patio. Mature trees in the front yard. What a great neighborhood to walk and raise a family.

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: Glen Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k394k

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

Neighborhood: Glen Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262392

* 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
Boggess Elementary School Primary Regular 772 52 9
Murphy Middle School Middle Regular 1,217 65 10
Mcmillen High School High Regular 1,088 70 8

Boggess Elementary School

  • Education Level: Primary
  • # of students: 772
  • # of teachers: 52
9
GreatSchools Rating

Murphy Middle School

  • Education Level: Middle
  • # of students: 1,217
  • # of teachers: 65
10
GreatSchools Rating

Mcmillen High School

  • Education Level: High
  • # of students: 1,088
  • # of teachers: 70
8
GreatSchools Rating
 

$341,865$417,835$379,850

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,401
Property Tax -$661
Property Insurance -$206
HOA -$32
Property Management Fees -$99
CASH FLOW
$0

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.

$379,850

PROJECTED PRICE

$2,400

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,410

INVESTMENT

$106,410

Down Payment
$94,963
Rehab Estimate
$5,750
Closing Costs
$5,698

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,401

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,963
Loan Amount $284,888
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,580

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,462

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,4003$2,4504$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 518 Tealwood Drive Murphy, TX 2
    • 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.77
    •  
  • 5713 Gerber Terrace Plano, TX 1
    • 4 beds 4 baths ∙ 2,927 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,927 Sqft ∙ Built 2002
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.75
    •  
  • 1024 Rochester Way Plano, TX 3
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 2001
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.84
    •  
  • 310 Greenfield Drive Murphy, TX 4
    • 4 beds 4 baths ∙ 3,351 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,351 Sqft ∙ Built 2002
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
  • 321 Greenfield Drive Murphy, TX 5
    • 4 beds 4 baths ∙ 3,338 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,338 Sqft ∙ Built 2002
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.84
    •  
PROPERTY LISTING DETAILS
Linda Giles
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465729
Last Updated: 11/07/2020
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