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529 Lucas Lane Lavon, TX 75166

3 Beds 2 Baths 2,132 sqft Built 2021

$302,313

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $141.80
  • 3 Days on Market
  • MLS # : 14481549
  • Updated Date : 12/04/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,132 sqft
  • Baths : 2 full
Listing Agent

Classic Property Management

Listing Agent's Description

Brand New Home built by Bloomfield Homes, Move-In Ready March 2021! Charming One-story in the desirable subdivision of Grand Heritage. Durable Wood-look tile throughout open areas. Open layout in Kitchen, Living areas. Kitchen complete with SS Appliances, Subway Tile Backsplash, and wall of modern cabinets. As a part of Bloomfield's Elements Series, this home has clean and modern features. Study at Bdrm 3 with Glass French Doors. Marble-look Tile in Owner's Ensuite Bath. Great outdoor space with Covered Patio, Full Fencing, and Mature Trees. Mudroom. Window Seats. Community offers amenities anyone would enjoy - Pool, Club House, Trails, Playground and more! Call today to learn about this great home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

ZipNIR 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$272,082$332,544$302,313

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,115
Property Tax -$580
Property Insurance -$150
HOA -$67
Property Management Fees -$99
CASH FLOW
-$192

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$302,313

PROJECTED PRICE

$1,820

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,113

INVESTMENT

$82,113

Down Payment
$75,578
Rehab Estimate
$2,000
Closing Costs
$4,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,115

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,578
Loan Amount $226,735
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,770

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7954$1,8205$1,990
$1,990
RENT COMPS ANALYSIS
  • 529 Lucas Lane Lavon, TX 4
    • 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,132 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.85
    •  
  • 498 Eisenhower Lane Lavon, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2007
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 420 Windmill Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,999 Sqft ∙ Built 2002
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 518 Langdon Street Lavon, TX 3
    • 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,148 Sqft ∙ Built 2018
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 636 Austin Lane Lavon, TX 5
    • 4 beds 2 baths ∙ 2,229 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,229 Sqft ∙ Built 2013
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.89
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481549
Last Updated: 12/04/2020
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