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608 Meadowcrest Drive Burleson, TX 76028

3 Beds 2 Baths 1,334 sqft Built 1998

$200,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $149.93
  • 3 Days on Market
  • MLS # : 14475872
  • Updated Date : 11/28/2020 at 13:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,334 sqft
  • Baths : 2 full
Listing Agent

Ready Real Estate

Listing Agent's Description

*MULTIPLE OFFERS RECEIVED* BEST AND FINAL OFFER DUE BY 7PM 11-28 Beautiful 3 Bed 2 Bath single family home in a quiet neighborhood. Driveway addition and gate access to park a trailer or boat in the backyard. Gated backyard also has a nice setup with a custom built firepit. Great for your family, or as an investment for a rental! This area is great for shopping, parks, dining, schools, easy access to the highway, etc. Info deemed correct; verify for accuracy. Buyer and buyers agent verify all measurements.

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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: Alsbury Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $103k258k

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

Neighborhood: Alsbury Meadows

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
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$738
Property Tax -$500
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$141

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.

$200,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.2%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$1,904

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,294

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,4004$1,4505$1,600
$1,600
RENT COMPS ANALYSIS
  • 608 Meadowcrest Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 928 Crowder Drive Crowley, TX 2
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2005
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 524 Meadowcrest Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1999
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 748 Bur Oak Drive Burleson, TX 4
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2005
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 931 Rolling Meadows Drive Burleson, TX 5
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1998
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jared Kinsey
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475872
Last Updated: 11/28/2020
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