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6024 Derek Trail Dallas, TX 75252

3 Beds 3 Baths 2,586 sqft Built 1991

$399,500

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $154.49
  • 3 Days on Market
  • MLS # : 14419405
  • Updated Date : 01/29/2021 at 19:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,586 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Affordable opportunity to live in Bent Trail in the desirable Plano ISD! Professionally cleaned! Updated landscaping! Bring your decorating ideas to make this your dream home! Split levels, 2 spacious living areas with fireplaces. Kitchen has Thermador double ovens, Bosch dishwasher, Fisher & Paykel cooktop, large breakfast bar & desk. Wet bar is conveniently located nearby. Two upstairs bedrooms share a connecting bath. Laundry room with sink & drip dry area. Zoned heat & AC, ceiling fans & sprinkler system. Front driveway offers access into the attached 2 car garage. Community provides a pool & tennis courts. Ideally located near Preston Road, 190, restaurants & shopping. This home could easily be yours!

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Haggar Elementary School Primary Regular 614 43 6
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Haggar Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 43
6
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$359,550$439,450$399,500

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,388
Property Tax -$789
Property Insurance -$177
HOA -$31
Property Management Fees -$99
CASH FLOW
-$74

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.

$399,500

PROJECTED PRICE

$2,410

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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-$5.0k$0.0$5.0k$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$111,618

INVESTMENT

$111,618

Down Payment
$99,875
Rehab Estimate
$5,750
Closing Costs
$5,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,388

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,875
Loan Amount $299,625
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,618

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,410
1$2,4102$2,4503$2,4954$2,4955$2,650
$2,650
RENT COMPS ANALYSIS
  • 6024 Derek Trail Dallas, TX 1
    • 3 beds 3 baths ∙ 2,586 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,586 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.93
    •  
  • 6519 Garlinghouse Lane Dallas, TX 2
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1979
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
  • 6079 Willow Wood Lane Dallas, TX 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 1992
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.01
    •  
  • 6032 Fieldstone Drive Dallas, TX 4
    • 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,691 Sqft ∙ Built 1992
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.93
    •  
  • 5938 Smoke Glass Trail Dallas, TX 5
    • 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,407 Sqft ∙ Built 1987
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
PROPERTY LISTING DETAILS
Elissa Sabel
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419405
Last Updated: 01/29/2021
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