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5981 Evening Star Place Dallas, TX 75235

3 Beds 4 Baths 1,858 sqft Built 2016

$465,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $250.27
  • 3 Days on Market
  • MLS # : 14464835
  • Updated Date : 11/06/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,858 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors-prosper

Listing Agent's Description

Amazing one owner David Weekley corner lot home in the heart of Dallas Medical District. Great location near hot spot dining and entertainment. Beautiful roof top terrace with an awesome view of Downtown Dallas skyline. 1st floor invites you into a guess bedroom & full bath. Door that takes you to the landscaped backyard. The wood floor staircase invites you to the living room, dining, kitchen and half bath. Lot's of details. Ton's of windows and deco lighting. Then up the stairs to the master bedroom, guest room and 2 full baths. Walk out to covered patio up the spiral staircase to enjoy your favorite beverage on the elegant rooftop view of the Dallas skyline. Owner has updated with Plantation shutters.

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
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,716
Property Tax -$1,103
Property Insurance -$135
HOA -$100
Property Management Fees -$99
CASH FLOW
-$452

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.

$465,000

PROJECTED PRICE

$2,700

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-$5.0k$0.0$5.0k

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$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$1,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.45

    LIST RENT PER SQFT
  • $3,035

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,9503$3,3954$3,400
$3,400
RENT COMPS ANALYSIS
  • 5981 Evening Star Place Dallas, TX 1
    • 3 beds 4 baths ∙ 1,858 Sqft ∙ Built 2016 3 beds 4 baths ∙ 1,858 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.45
    •  
  • 5176 Brickellia Drive Dallas, TX 2
    • 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 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
Tina Craig
Ebby Halliday, Realtors-prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464835
Last Updated: 11/06/2020
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