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5802 Worth Street Dallas, TX 75214

3 Beds 3 Baths 2,299 sqft Built 2001

INVESTimate

$549,000

List Price

$3,350

$3,100 - $3,600

Rent Est.

$614,276  ( +11.89%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $238.80
  • 5 Days on Market
  • MLS # : 14413433
  • Updated Date : 08/22/2020 at 16:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,299 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Junius Heights home on corner lot featuring 3 beds (3rd bed in studio), 2.5 baths. Home features fabulous flex space originally designed as a professional recording studio now used as a guest bed area, play rm & media rm, & office, perfect for those that need a separate work from home area. The space could be an excellent mother-in-law suite as it has a sep. entrance & off street parking for many cars. Buyers will love the charm of beautiful wainscoting, built-ins, tall ceilings, tons of windows, attached garage w work space, & great outdoor living space. Peaceful master retreat w large BR & WIC. Recently replaced window panes, HVAC & WH. Close to DT Dallas, WR Lake, Lakewood Shop. Ctr., major highways, SMU.

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: Junius Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $102k427k

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

Neighborhood: Junius Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9472170

* 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
William Lipscomb Elementary School Primary Regular 509 32 6
J.l. Long Middle School Middle Regular 1,299 83 5
Woodrow Wilson High School High Regular 1,697 100 5

William Lipscomb Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 32
6
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
 

$494,100$603,900$549,000

PURCHASE PRICE

$3,015$3,685$3,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,350
EXPENSES Loan Payment -$2,026
Property Tax -$1,313
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$247

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.

$549,000

PROJECTED PRICE

$3,350

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.89%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,235

INVESTMENT

$151,235

Down Payment
$137,250
Rehab Estimate
$5,750
Closing Costs
$8,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,250
Loan Amount $411,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,350

    LIST RENT
  • $1.46

    LIST RENT PER SQFT
  • $3,357

    COMP ESTIMATED VALUE
  • $1.46

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,1953$3,3504$3,5005$3,600
$3,600
RENT COMPS ANALYSIS
  • 5802 Worth Street Dallas, TX 3
    • 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.46
    •  
  • 6125 Tremont Street Dallas, TX 1
    • 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,988 Sqft ∙ Built 1986
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.41
    •  
  • 5844 Oram Street Dallas, TX 2
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1998
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.50
    •  
  • 6035 Chimera Court Dallas, TX 4
    • 3 beds 4 baths ∙ 2,298 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,298 Sqft ∙ Built 2015
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.52
    •  
  • 2204 Lola Court Dallas, TX 5
    • 3 beds 4 baths ∙ 2,561 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,561 Sqft ∙ Built 2015
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.41
    •  
PROPERTY LISTING DETAILS
Kim Sinnott
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413433
Last Updated: 08/22/2020
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