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5806 Cynthia Drive Midlothian, TX 76065

3 Beds 2 Baths 1,520 sqft Built 2003

$249,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $164.41
  • 11 Days on Market
  • MLS # : 14459680
  • Updated Date : 10/24/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

VACANT! Come see this open, spacious, 3 bedroom, 2 bath home on a corner lot!! Featuring NEW flooring, NEW paint, NEW stainless appliances, NEW granite, Updated lighting! Kitchen is open to the living room with a cozy corner fireplace. Split bedrooms, Owner's suite with en-suite, separate shower and tub. Good size backyard with covered patio. Great schools!! Don't miss out on this one!!

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: Longbranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Longbranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10602171

* 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
Longbranch Elementary School Primary Regular 705 42 7
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Longbranch Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 42
7
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$922
Property Tax -$545
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
-$151

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.

$249,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$3,561

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,561

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,6953$1,7154$1,895
$1,895
RENT COMPS ANALYSIS
  • 5806 Cynthia Drive Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.01
    •  
  • 6209 Donna Drive Midlothian, TX 2
    • 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,668 Sqft ∙ Built 2000
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 513 Covent Garden Place Midlothian, TX 3
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2004
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $0.98
    •  
  • 6402 Peach Tree Court Midlothian, TX 4
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2006
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.08
    •  
PROPERTY LISTING DETAILS
Robert Jones
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459680
Last Updated: 10/24/2020
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