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524 Deerwood Drive Burleson, TX 76028

3 Beds 2 Baths 2,196 sqft Built 1998

$239,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $108.83
  • 2 Days on Market
  • MLS # : 14505284
  • Updated Date : 01/23/2021 at 19:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,196 sqft
  • Baths : 2 full
Listing Agent

League Real Estate

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. Submit highest and best by 8am on Monday, Jan. 25th. This spacious family home is located in desired North Joshua Elementary and Nichols Middle School, school zones. This home features 3 bedroom, 2 updated baths, an office, and a media room or large bonus room off of the kitchen. Priced to sell and with a little bit of love, this open layout home could what you're looking for. It's charming and has a lot to offer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k336k

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

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
North Joshua Elementary School Primary Regular 581 38 9
North Joshua Elementary School Middle Regular 581 38 9
Joshua Ninth Grade Campus High Regular 391 29 7

North Joshua Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

North Joshua Elementary School

  • Education Level: Middle
  • # of students: 581
  • # of teachers: 38
9
GreatSchools Rating

Joshua Ninth Grade Campus

  • Education Level: High
  • # of students: 391
  • # of teachers: 29
7
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$830
Property Tax -$573
Property Insurance -$154
HOA -$38
Property Management Fees -$99
CASH FLOW
$256

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.

$239,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.7%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$31,107

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,9504$2,0005$2,015
$2,015
RENT COMPS ANALYSIS
  • 524 Deerwood Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,196 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 203 Arrowhead Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2007
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 221 Sanctuary Way Burleson, TX 2
    • 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,040 Sqft ∙ Built 2006
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 2525 Greenhaven Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 2001
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 2800 Lakeside Drive Burleson, TX 5
    • 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,228 Sqft ∙ Built 1998
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,015
    • $0.90
    •  
PROPERTY LISTING DETAILS
Katie Reames
League Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505284
Last Updated: 01/23/2021
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