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603 Meadowbrook Drive Burleson, TX 76028

3 Beds 2 Baths 1,516 sqft Built 2002

$235,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $155.01
  • 2 Days on Market
  • MLS # : 14479869
  • Updated Date : 12/05/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,516 sqft
  • Baths : 2 full
Listing Agent

Revolution Real Estate

Listing Agent's Description

Beautiful 3 bedroom, 2 bathroom home in desirable Burleson! As you walk in, you will notice the cozy living area that features a wood burning fireplace. Kitchen features windows that let in natural light, stainless appliances and eat in area. Good sized master bedroom. Master bathroom has separate tub and standing shower, dual sinks and walk in closet. Backyard has a covered patio with a deck looking out at the backyard. Plenty of space to run and play. Schedule a showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Creekside South

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $115k258k

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

Neighborhood: Creekside South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Mound Elementary School Primary Regular 424 29 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Mound Elementary School

  • Education Level: Primary
  • # of students: 424
  • # of teachers: 29
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$867
Property Tax -$563
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
-$244

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.

$235,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,417

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4003$1,5494$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 603 Meadowbrook Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 629 Green Mountain Road Burleson, TX 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1997
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.96
    •  
  • 853 Beaver Creek Drive Burleson, TX 3
    • 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,675 Sqft ∙ Built 2000
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.92
    •  
  • 1009 Rock Springs Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,703 Sqft ∙ Built 2001
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 744 Tanglewood Drive Burleson, TX 5
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2004
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
James Like
Revolution Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479869
Last Updated: 12/05/2020
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