Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5965 Morning Star Place Dallas, TX 75235

3 Beds 4 Baths 1,893 sqft Built 2017

$424,900

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $224.46
  • 4 Days on Market
  • MLS # : 14503784
  • Updated Date : 01/21/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,893 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Exceptional freestanding townhome adjacent to the Medical District. Pristine condition and obvious pride in ownership reflected throughout the home. All common areas have wood floors. The kitchen has stone counters, stainless steel appliances and ample custom cabinets. The owner's suite is generously proportioned and has a spa like bathroom with dual sinks, a soaking tub and separate shower with custom tilework. Private outdoor space is perfect for grilling and Fido. Quick rideshare to the best entertainment and restaurants in Uptown. Convenient access to any location throughout the DFW Metroplex and beyond with a neighborhood commuter rail station and Love Field Airport.

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: 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
 

$382,410$467,390$424,900

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,476
Property Tax -$1,040
Property Insurance -$137
HOA -$100
Property Management Fees -$99
CASH FLOW
-$201

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.

$424,900

PROJECTED PRICE

$2,650

PROJECTED RENT

0.62%

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

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$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% 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 $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,097

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,903

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8003$3,3954$3,400
$3,400
RENT COMPS ANALYSIS
  • 5965 Morning Star Place Dallas, TX 1
    • 3 beds 4 baths ∙ 1,893 Sqft ∙ Built 2017 3 beds 4 baths ∙ 1,893 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.40
    •  
  • 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
    •  
  • 5327 Holland Avenue Dallas, TX 3
    • 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 4
    • 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
Kenneth Walters
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503784
Last Updated: 01/21/2021
BESbswy