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531 Button Drive Mesquite, TX 75150

4 Beds 2 Baths 1,607 sqft Built 1980

INVESTimate

$199,500

List Price

$1,550

$1,395 - $1,705

Rent Est.

$222,283  ( +11.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $124.14
  • 3 Days on Market
  • MLS # : 14419472
  • Updated Date : 08/25/2020 at 10:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,607 sqft
  • Baths : 2 full
Listing Agent

Pioneer Dfw Realty, Llc

Listing Agent's Description

Deadline 5pm. Tuesday. Multiple offers. 4 bedrooms or 3 plus a bonus room; currently being used as an extra dining area. Spacious family room, larger than standard guest bedrooms, and a large master. Walk in shower in master, shower tile combo in guest bathroom, freshly painted and all new carpet, upgraded pad, and vinyl plank tile. Stainless steel range and dishwasher. French doors with adjustable built in blinds leading to patio, roomy backyard, and 2 car garage. Very well kept subdivision.

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: Meadowdale

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Meadowdale

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701734

* 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
Beasley Elementary School Primary Regular 466 29 5
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Beasley Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 29
5
GreatSchools Rating

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$179,550$219,450$199,500

PURCHASE PRICE

$1,395$1,705$1,550

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$736
Property Tax -$484
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
$111

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.

$199,500

PROJECTED PRICE

$1,550

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,618

INVESTMENT

$58,618

Down Payment
$49,875
Rehab Estimate
$5,750
Closing Costs
$2,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$736

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,875
Loan Amount $149,625
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$20,409

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,575

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5993$1,6004$1,6505$1,745
$1,745
RENT COMPS ANALYSIS
  • 531 Button Drive Mesquite, TX 1
    • 4 beds 2 baths ∙ 1,607 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,607 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 300 Boxwood Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1979
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.00
    •  
  • 817 Gageway Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1983
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 631 Via Sonoma Mesquite, TX 4
    • 4 beds 2 baths ∙ 1,711 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,711 Sqft ∙ Built 1978
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 501 Via Altos Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,711 Sqft ∙ Built 1978
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.02
    •  
PROPERTY LISTING DETAILS
Shanna Baldree
Pioneer Dfw Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419472
Last Updated: 08/25/2020
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