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607 Brenda Lane Euless, TX 76039

5 Beds 4 Baths 3,276 sqft Built 2004

$379,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $115.96
  • 3 Days on Market
  • MLS # : 14473622
  • Updated Date : 11/21/2020 at 11:02
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,276 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

STUNNER! You will love coming home to this spacious & rare to find 5BR residence gently nestled on a large corner lot in the heart of the metroplex, and serviced by award winning Hurst Euless Bedford ISD, within walking distance of the new Fine Arts School of Choice Arbor Creek Elementary. The floorplan is opulently spacious & flows effortlessly boasting several living & dining areas and gorgeous kitchen with granite counters & updated appliances. Downstairs Master Retreat comes with a nicely remodeled bath incl oversized shower. New carpets & paint. Central, convenient & rapidly appreciating location - mins to DFW Airport, Highways 183, 360, 114 & 121 and surrounded by new expensive residential developments.

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: Midway Square

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $122k339k

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

Neighborhood: Midway Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9932138

* 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
Midway Park Elementary School Primary Regular 701 41 7
Euless Junior High School Middle Regular 1,024 57 8
Euless Junior High School High Regular 1,024 57 8

Midway Park Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 41
7
GreatSchools Rating

Euless Junior High School

  • Education Level: Middle
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating

Euless Junior High School

  • Education Level: High
  • # of students: 1,024
  • # of teachers: 57
8
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,402
Property Tax -$757
Property Insurance -$217
HOA -$31
Property Management Fees -$99
CASH FLOW
-$5

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.

$379,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$15k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$19,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,572

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4953$2,5004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 607 Brenda Lane Euless, TX 5
    • 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 506 Port Royale Way Euless, TX 1
    • 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,932 Sqft ∙ Built 2008
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 605 Amy Way Euless, TX 2
    • 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.76
    •  
  • 604 Erica Lane Euless, TX 3
    • 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 1102 Winston Drive Euless, TX 4
    • 4 beds 3 baths ∙ 3,114 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,114 Sqft ∙ Built 1996
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Anastasia Riley
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473622
Last Updated: 11/21/2020
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