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5628 Matalee Avenue Dallas, TX 75206

3 Beds 3 Baths 2,506 sqft Built 2006

$579,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $231.05
  • 3 Days on Market
  • MLS # : 14523037
  • Updated Date : 02/26/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,506 sqft
  • Baths : 2 full , 1 half
Listing Agent

Paragon Realtors

Listing Agent's Description

Fantastic 3 bedroom. 2.1 Baths, 2 Living + Study SFA on spectacular block walking distance to Lower Greenville restaurants, shops, Granada Theater and more! Minutes from Downtown, Uptown, Knox, Oaklawn, Katy Trail and Glencoe Park! Features include hand scraped hardwoods, SS appliances, designer fixtures throughout, wine fridge, gas log FP, wet bar with sink, recent complete interior repainted, hot water heater in 2020, 3 toilettes in 2020, and kitchen modifications to include sliders and new pull out drawers being installed in March! Incredible outdoor covered patio area perfect for gatherings! Oversized two car garage with storage! Best value for this size home in the neighborhood!

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: Glencoe Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $102k524k

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

Neighborhood: Glencoe Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9472970

* 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
Mockingbird Elementary School Primary Regular 616 43 9
J.l. Long Middle School Middle Regular 1,299 83 5
Woodrow Wilson High School High Regular 1,697 100 5

Mockingbird Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 43
9
GreatSchools Rating

J.l. Long Middle School

  • Education Level: Middle
  • # of students: 1,299
  • # of teachers: 83
5
GreatSchools Rating

Woodrow Wilson High School

  • Education Level: High
  • # of students: 1,697
  • # of teachers: 100
5
GreatSchools Rating
 

$521,100$636,900$579,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$2,011
Property Tax -$1,373
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
-$385

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.

$579,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,185

INVESTMENT

$159,185

Down Payment
$144,750
Rehab Estimate
$5,750
Closing Costs
$8,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,011

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $144,750
Loan Amount $434,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $3,533

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$3,270
1$3,2702$3,5003$3,5004$3,5505$3,600
$3,600
RENT COMPS ANALYSIS
  • 5628 Matalee Avenue Dallas, TX 1
    • 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.30
    •  
  • 5613 Martel Avenue Dallas, TX 2
    • 3 beds 3 baths ∙ 2,394 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,394 Sqft ∙ Built 2006
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.46
    •  
  • 5628 Ellsworth Avenue Dallas, TX 3
    • 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,532 Sqft ∙ Built 2005
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.38
    •  
  • 5557 Martel Avenue Dallas, TX 4
    • 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,497 Sqft ∙ Built 2011
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.42
    •  
  • 5630 Ellsworth Avenue Dallas, TX 5
    • 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 2005
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.38
    •  
PROPERTY LISTING DETAILS
Ricky Brooks
Paragon Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523037
Last Updated: 02/26/2021
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