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5917 Morning Star Place Dallas, TX 75235

3 Beds 4 Baths 2,011 sqft Built 2016

$460,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $228.74
  • 3 Days on Market
  • MLS # : 14522820
  • Updated Date : 02/26/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,011 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Gorgeous, sleek & perfectly located right in the heart of Dallas this David Weekly home, sitting on a premium corner lot with a fabulous roof top deck that includes beautiful views of the Dallas skyline. This is a 3 bedroom 3.5 single family home that is absolutely flooded with natural light and has an airy, fresh style. The front yard is oversized, fenced & gated and the private backyard is turfed. Inside the upgraded finishes include large natural stone counter tops, clean lined & contemporary cabinets, stunning baths, the perfect open kitchen with stainless appliances and the whole home absolutely filled with natural light. Close to shops, restaurants, UT Southwestern and Parkland.

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: Medical District

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k246k

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

Neighborhood: Medical District

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9472778

* 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
Maple Lawn Elementary School Primary Regular 569 36 5
Thomas J. Rusk Middle School Middle Regular 572 41 3
North Dallas High School High Regular 1,212 82 2

Maple Lawn Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 36
5
GreatSchools Rating

Thomas J. Rusk Middle School

  • Education Level: Middle
  • # of students: 572
  • # of teachers: 41
3
GreatSchools Rating

North Dallas High School

  • Education Level: High
  • # of students: 1,212
  • # of teachers: 82
2
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,598
Property Tax -$1,091
Property Insurance -$143
HOA -$100
Property Management Fees -$99
CASH FLOW
-$361

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.

$460,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,598

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,700

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $3,132

    COMP ESTIMATED VALUE
  • $1.56

    COMP AVG. RENT PER SQFT
Comps Range
$2,670
1$2,6702$2,8003$2,9504$3,3955$3,400
$3,400
RENT COMPS ANALYSIS
  • 5917 Morning Star Place Dallas, TX 1
    • 3 beds 4 baths ∙ 2,011 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,011 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $1.33
    •  
  • 5858 Orion Place Dallas, TX 2
    • 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,103 Sqft ∙ Built 2017
    property image
    LEASED 01/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.33
    •  
  • 5176 Brickellia Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 2019
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.63
    •  
  • 5327 Holland Avenue Dallas, TX 4
    • 3 beds 4 baths ∙ 2,101 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,101 Sqft ∙ Built 2016
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.62
    •  
  • 5211 Maple Springs Boulevard Dallas, TX 5
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2001
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.65
    •  
PROPERTY LISTING DETAILS
Victoria Barr De Quinones
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522820
Last Updated: 02/26/2021
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