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5641 Shallow Creek Drive Midlothian, TX 76065

3 Beds 2 Baths 2,055 sqft Built 1992

$425,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $206.81
  • 5 Days on Market
  • MLS # : 14508819
  • Updated Date : 02/06/2021 at 10:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,055 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

COZY traditional home meets modern farmhouse touches with all the updates you want in this BEAUTIFUL Midlothian ISD gem! GORGEOUS, fully updated GRANITE KITCHEN AND HUGE ISLAND opens to your breakfast area and living room with a fireplace. SECOND HUGE LIVING with space for formal dining. RELAX AND ENJOY your covered back patio while enjoying the beautiful tree-filled landscaping and pool! Other amazing features you won't find in other homes: HUGE UTILITY ROOM with tons of cabinets and counter space, UNBELIVABLE 17x8 custom built master closet, 23 X 36 workshop with electricity and roughed in plumbing. Perfect country living close to all the best shopping and restaurants in Midlothian! Buyer to verify all data.

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: Shallow Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Shallow Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,476
Property Tax -$927
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$579

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.

$425,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.49%

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

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$27

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,101

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,1003$2,1954$2,3955$2,450
$2,450
RENT COMPS ANALYSIS
  • 5641 Shallow Creek Drive Midlothian, TX 1
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.01
    •  
  • 6431 Sun Crest Court Midlothian, TX 2
    • 3 beds 2 baths ∙ 2,071 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,071 Sqft ∙ Built 2001
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 3620 Leigh Erin Street Midlothian, TX 3
    • 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
    •  
  • 5422 Leander Way Midlothian, TX 4
    • 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,386 Sqft ∙ Built 2010
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.00
    •  
  • 5202 Ambassador Drive Midlothian, TX 5
    • 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,276 Sqft ∙ Built 2006
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.08
    •  
PROPERTY LISTING DETAILS
Christi Corbin
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508819
Last Updated: 02/06/2021
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