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548 Ten Mile Drive Desoto, TX 75115

4 Beds 3 Baths 2,510 sqft Built 1999

$300,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $119.52
  • 2 Days on Market
  • MLS # : 14465004
  • Updated Date : 11/28/2020 at 10:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,510 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Best Sw

Listing Agent's Description

This property checks all of the boxes! The traditional classy red brick home overlooking the neighbors on a hilltop in the stately Hidden Canyon subdivision. 4 spacious bedrooms, 3 full bathrooms, a game room, formal dining room, oversized master suite, located in a quiet neighborhood on more than a third of an acre! There are upgrades galore and pride of ownership is evident throughout. Featuring new glass in-lay tile in both upstairs bathrooms floors and showers, Indian marble in foyer, marble countertops in the dine in kitchen, and 24 inch x 24 inch porcelain flooring in kitchen. This home shows like a dream!

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

Neighborhood: Hidden Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k245k

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

Neighborhood: Hidden Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451758

* 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
Ruby Young Elementary School Primary Regular 617 34 3
Desoto West Middle School Middle Regular 709 49 3

Ruby Young Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 34
3
GreatSchools Rating

Desoto West Middle School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 49
3
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,107
Property Tax -$717
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
-$155

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.

$300,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$4,323

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$1,8004$1,8505$1,940
$1,940
RENT COMPS ANALYSIS
  • 548 Ten Mile Drive Desoto, TX 5
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.77
    •  
  • 529 Jeff Grimes Boulevard Desoto, TX 1
    • 4 beds 4 baths ∙ 2,374 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,374 Sqft ∙ Built 1989
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.75
    •  
  • 1340 Grand Teton Drive Desoto, TX 2
    • 3 beds 2 baths ∙ 2,349 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,349 Sqft ∙ Built 1982
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 1104 Lexington Circle Desoto, TX 3
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 1987
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 1113 Barrington Drive Desoto, TX 4
    • 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,421 Sqft ∙ Built 1991
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
PROPERTY LISTING DETAILS
Keith Stone
Keller Williams Realty Best Sw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465004
Last Updated: 11/28/2020
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