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6021 Country South Lane Midlothian, TX 76065

4 Beds 3 Baths 3,067 sqft Built 2010

$524,900

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $171.14
  • 4 Days on Market
  • MLS # : 14506861
  • Updated Date : 01/28/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,067 sqft
  • Baths : 3 full
Listing Agent

Briggs Freeman Sotheby's Int'l

Listing Agent's Description

Welcome to your piece of the country with this captivating home on 1.19 acres backing to a creek and beautiful tree line filled with bluebonnets in spring and fireflies in summer. In highly sought-after Midlothian ISD you will find the home of your dreams. The home features 2 living areas, office, game room and a bonus craft room. A spacious kitchen with eat-in area with built-in bench, plus large pantry accommodates gatherings. A large master suite plus 1 bedroom and full bath are down. A covered patio and inviting saltwater pool and firepit have a perfect view of sunsets. Spray foam insulation includes the 3-car garage. Plus, a private lake for fishing or picnics!

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: Country South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: Country South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262660

* 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
Larue Miller Elementary School Primary Regular 554 37 8
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

Larue Miller Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 37
8
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$472,410$577,390$524,900

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$1,823
Property Tax -$1,145
Property Insurance -$204
HOA -$21
Property Management Fees -$99
CASH FLOW
-$613

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.

$524,900

PROJECTED PRICE

$2,680

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,658

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4503$2,6804$2,875
$2,875
RENT COMPS ANALYSIS
  • 6021 Country South Lane Midlothian, TX 3
    • 4 beds 3 baths ∙ 3,067 Sqft ∙ Built 2010 4 beds 3 baths ∙ 3,067 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.87
    •  
  • 437 Bentley Drive Midlothian, TX 1
    • 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,770 Sqft ∙ Built 2016
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 450 Bentley Drive Midlothian, TX 2
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2016
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 3611 Skinner Road Midlothian, TX 4
    • 4 beds 4 baths ∙ 3,358 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,358 Sqft ∙ Built 2003
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,875
    • $0.86
    •  
PROPERTY LISTING DETAILS
Susan Thornton
Briggs Freeman Sotheby's Int'l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506861
Last Updated: 01/28/2021
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