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530 Mattie Lane Lake Dallas, TX 75065

3 Beds 2 Baths 1,434 sqft Built 2007

$270,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $188.28
  • 6 Days on Market
  • MLS # : 14484794
  • Updated Date : 01/08/2021 at 08:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

American Realty

Listing Agent's Description

Charming Starter Home in Mint Condition in a nice Lake Dallas neighborhood! 3 Bedrooms, 2 Full Baths, Granite Counters, Stainless Appliances, Hardwoods, High Ceilings, Plantation Shutters, 2 Car Garage. Lake Dallas is a great location with a small town country feel but situated near the bustling cities, with good schools and of course beautiful Lake Lewisville, Parks, and Marinas. New Roof and insulation in April 2020. Sprinkler system. Clean Foundation Report. This home also has a brand new wood fence and stone retaining wall. Fridge, Washer, and Dryer are Negotiable. Welcome Home!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Legacy Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k254k

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

Neighborhood: Legacy Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8351744

* 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
Lake Dallas Elementary School Primary Regular 721 47 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Lake Dallas Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 47
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$938
Property Tax -$575
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
-$42

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.

$270,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$8.0k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,555

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4953$1,6804$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 530 Mattie Lane Lake Dallas, TX 3
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.17
    •  
  • 402 Stockard Street Lake Dallas, TX 1
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 2002
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.08
    •  
  • 232 Adolphus Avenue Lake Dallas, TX 2
    • 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,255 Sqft ∙ Built 2005
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.19
    •  
  • 512 Mattie Lane Lake Dallas, TX 4
    • 4 beds 2 baths ∙ 1,439 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,439 Sqft ∙ Built 2005
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.22
    •  
  • 511 Clancy Lane Lake Dallas, TX 5
    • 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,439 Sqft ∙ Built 2005
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.22
    •  
PROPERTY LISTING DETAILS
Beau Beasley
American Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484794
Last Updated: 01/08/2021
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