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6104 Veranda Way Dallas, TX 75241

3 Beds 2 Baths 2,035 sqft Built 2005

$218,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $107.13
  • 6 Days on Market
  • MLS # : 14512449
  • Updated Date : 02/12/2021 at 21:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,035 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Attractive and colorful 3 bedroom 2 bath brick home featuring open Kitchen with island. Newer SS Appliances. Master Bedroom with great bath arrangement, open floor plan that you will enjoy. ELECTRIC fireplace feels good today ! Updated flooring, fresh paint in and out. Large covered VERANDA wood deck that you can enjoy Downtown Skyline Lights at night, 8 miles away.

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: College Terrace

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $77k243k

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

Neighborhood: College Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781734

* 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
J.n. Ervin Elementary School Primary Regular 697 40 3
Kennedy Curry Middle School Middle Regular 785 50 NA
Wilmer-hutchins High School High Regular 863 68 NA

J.n. Ervin Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 40
3
GreatSchools Rating

Kennedy Curry Middle School

  • Education Level: Middle
  • # of students: 785
  • # of teachers: 50
NA
GreatSchools Rating

Wilmer-hutchins High School

  • Education Level: High
  • # of students: 863
  • # of teachers: 68
NA
GreatSchools Rating
 

$196,200$239,800$218,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$757
Property Tax -$517
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
$162

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.

$218,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 13.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,520

INVESTMENT

$63,520

Down Payment
$54,500
Rehab Estimate
$5,750
Closing Costs
$3,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$757

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,500
Loan Amount $163,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$21,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,638

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6754$1,6805$1,695
$1,695
RENT COMPS ANALYSIS
  • 6104 Veranda Way Dallas, TX 4
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.83
    •  
  • 6214 Balcony Lane Dallas, TX 1
    • 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,073 Sqft ∙ Built 2005
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 6147 College Way Dallas, TX 2
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2004
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 6131 College Way Dallas, TX 3
    • 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2005
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.81
    •  
  • 3356 Mojave Drive Dallas, TX 5
    • 3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2006
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
PROPERTY LISTING DETAILS
Donald Nevins
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512449
Last Updated: 02/12/2021
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