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528 Windsong Mesquite, TX 75149

3 Beds 2 Baths 1,694 sqft Built 1995

INVESTimate

$195,000

List Price

$1,570

$1,413 - $1,727

Rent Est.

$219,160  ( +12.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $115.11
  • 4 Days on Market
  • MLS # : 14418789
  • Updated Date : 08/24/2020 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,694 sqft
  • Baths : 2 full
Listing Agent

Star Five, Realtors

Listing Agent's Description

Great entry level property with great square footage for a growing family near parks, recreation center, and major highways...The flooring is perfect for your artistic imagination and with a full offer we will offer an allowance for that vision...The only aspect this home lacks is the new owner that's ready to take this property to a new level!!

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: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9661734

* 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
Shaw Elementary School Primary Regular 851 48 4
Agnew Middle School Middle Regular 745 49 5
Mesquite High School High Regular 2,851 168 4

Shaw Elementary School

  • Education Level: Primary
  • # of students: 851
  • # of teachers: 48
4
GreatSchools Rating

Agnew Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 49
5
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$719
Property Tax -$473
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$154

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$195,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.39%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$24,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5703$1,5754$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 528 Windsong Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.93
    •  
  • 710 Snapdragon Trail Mesquite, TX 1
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 1986
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 1507 Windmill Lane Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1986
    property image
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.91
    •  
  • 1408 Copper Meadow Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,613 Sqft ∙ Built 1995
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 1112 Old Barn Lane Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1985
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
PROPERTY LISTING DETAILS
Rashad Thomas
Star Five, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418789
Last Updated: 08/24/2020
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