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531 Applespice Drive Shreveport, LA 71115

3 Beds 3 Baths 2,016 sqft Built 1994

$195,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $96.73
  • 1 Days on Market
  • MLS # : 280485NL
  • Updated Date : 03/14/2021 at 00:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,016 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Gosslee

Listing Agent's Description

New HVAC System! New Roof coming soon! Tall ceilings! Lovely sun room! Bonus Exercise room! Great neighborhood! Close to shopping! Come see this one!

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

Zip Code: 71115

ZipNIR Market*CityMarket2010Year2004 Q3201980k90k100k110k120k130k140k150k160k170k180k190kPrice in $73k198k

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

Zip Code: 71115

ZipNIR Market*CityMarket2015Year2009 Q32019 Q29001000110012001300140015001600Rent in $8481698

* 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
Claiborne Fundamental Elementary School Primary Magnet 401 26 10
Caddo Middle Magnet Middle Magnet 1,281 65 10
Caddo Parish Magnet High School High Magnet 1,122 69 9

Claiborne Fundamental Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 26
10
GreatSchools Rating

Caddo Middle Magnet

  • Education Level: Middle
  • # of students: 1,281
  • # of teachers: 65
10
GreatSchools Rating

Caddo Parish Magnet High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 69
9
GreatSchools Rating
 

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

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$677
Property Tax -$249
Property Insurance -$65
HOA -$187
Property Management Fees -$99
CASH FLOW
$282

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$195,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 1.39%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.82%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

6.75

YEARS SAVED

$16,530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5603$1,6004$1,6955$1,750
$1,750
RENT COMPS ANALYSIS
  • 531 Applespice Drive Shreveport, LA 2
    • 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.77
    •  
  • 429 Tulip Drive Shreveport, LA 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.81
    •  
  • 123 Pantheon Lane Shreveport, LA 3
    • 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2005
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 192 Riverbrooke Drive Shreveport, LA 4
    • 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 2006
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 204 Riverbrooke Drive Shreveport, LA 5
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2010
    property image
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
PROPERTY LISTING DETAILS
Dondi Fielder
Coldwell Banker Gosslee
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 280485NL
Last Updated: 03/14/2021
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