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5631 Mission Court Midlothian, TX 76065

3 Beds 2 Baths 2,284 sqft Built 2001

$394,995

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $172.94
  • 4 Days on Market
  • MLS # : 14499644
  • Updated Date : 01/16/2021 at 22:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,284 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This property will go fast! The beautiful 2 story home with inground pool is set on over an acre in one of the most sought after areas of Midlothian and there is NO HOA. From the stained concrete floors and an oversized garage to the spacious master and bath, this home offers something for everyone. The large pantry works well with the recently remodeled kitchen with two ovens. The pool and storage shed in addition to acreage make this property great for outside activities. The master is set off from the two other bedrooms and large second bath. The large bonus room upstairs is available for many uses including a fourth bedroom. BIG walk in attic and and closets. Don't miss out!

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: Mission Hill

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Mission Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262473

* 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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$355,496$434,495$394,995

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,372
Property Tax -$862
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
-$182

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.

$394,995

PROJECTED PRICE

$2,310

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,424

INVESTMENT

$110,424

Down Payment
$98,749
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,749
Loan Amount $296,246
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$6,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,360

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2953$2,3104$2,595
$2,595
RENT COMPS ANALYSIS
  • 5631 Mission Court Midlothian, TX 3
    • 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.01
    •  
  • 3620 Leigh Erin Street Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,192 Sqft ∙ Built 2000
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.00
    •  
  • 461 Bentley Drive Midlothian, TX 2
    • 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,197 Sqft ∙ Built 2016
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
  • 5621 Country South Lane Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.06
    •  
PROPERTY LISTING DETAILS
Duane Ray
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499644
Last Updated: 01/16/2021
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