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529 Kiowa Drive Lake Kiowa, TX 76240

3 Beds 3 Baths 2,242 sqft Built 1992

INVESTimate

$610,000

List Price

$2,140

$1,926 - $2,354

Rent Est.

$654,103  ( +7.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $272.08
  • 5 Days on Market
  • MLS # : 14416203
  • Updated Date : 08/24/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,242 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Lifestyle Realty Group

Listing Agent's Description

Well-kept one story west side lakefront home on Lake Kiowa! Hard to find! Spacious open living-dining-kitchen with nice lake views & 10' ceilings. Extra large master bedroom with fireplace & sitting area that looks to lake. Two & a half baths. Kitchen includes granite countertops, large pantry, lots of cabinet space, new kitchen appliances and eat-at bar. Screened in porch expands your lakeside living space in a terrific way! Back deck also features nice space for grilling. Raised planters just below the deck are a nice feature. Huge backyard allows for plenty of fun & games or future pool space! Quiet cove for great floating, swimming, paddling and kayaking! Convenient location for access to golf course.

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: 76240

ZipNIR Market*CityMarket20102015Year20062019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $83k331k

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

Zip Code: 76240

No Data Available.

* 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
Callisburg Elementary School Primary Regular 528 32 7
Callisburg High School High Regular 350 29 7

Callisburg Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 32
7
GreatSchools Rating

Callisburg High School

  • Education Level: High
  • # of students: 350
  • # of teachers: 29
7
GreatSchools Rating
 

$549,000$671,000$610,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$2,251
Property Tax -$991
Property Insurance -$152
HOA -$285
Property Management Fees -$99
CASH FLOW
-$1,637

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.

$610,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$3,459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,838

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,140
$2,140
RENT COMPS ANALYSIS
  • 529 Kiowa Drive Lake Kiowa, TX 2
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.95
    •  
  • 188 County Road 226 Gainesville, TX 1
    • 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,450 Sqft ∙ Built 2006
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Dee Dorman
Texas Lifestyle Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416203
Last Updated: 08/24/2020
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