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6111 Black Berry Lane Dallas, TX 75248

3 Beds 3 Baths 2,205 sqft Built 1980

$447,250

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $202.83
  • 6 Days on Market
  • MLS # : 14462568
  • Updated Date : 11/05/2020 at 14:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,205 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

This immaculately updated home on a quiet street is light filled & inviting. Beautiful gardens front, back & side enhance welcoming interior. Excellent floor plan offers two living & dining areas all with garden views. Family room opens to kitchen-nook & delightful landscaped patio. Spacious primary suite views small atrium & opens to crisp elegant bath & generous closet. Bedrooms two & three flank redone bath & include good storage. Functional modern kitchen includes numerous cabinets & counter space. Fabulous fence!! Garage includes built-in shelving. Great location & outstanding Richardson schools. Nothing to do. Just move in & ENJOY.

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: Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k413k

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

Neighborhood: Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9472886

* 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
Prestonwood Elementary School Primary Regular 438 28 7
Prestonwood Elementary School Middle Regular 438 28 7
Richardson High School High Regular 2,653 173 8

Prestonwood Elementary School

  • Education Level: Primary
  • # of students: 438
  • # of teachers: 28
7
GreatSchools Rating

Prestonwood Elementary School

  • Education Level: Middle
  • # of students: 438
  • # of teachers: 28
7
GreatSchools Rating

Richardson High School

  • Education Level: High
  • # of students: 2,653
  • # of teachers: 173
8
GreatSchools Rating
 

$402,525$491,975$447,250

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,650
Property Tax -$1,060
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
-$594

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.

$447,250

PROJECTED PRICE

$2,370

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,271

INVESTMENT

$124,271

Down Payment
$111,813
Rehab Estimate
$5,750
Closing Costs
$6,709

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,813
Loan Amount $335,438
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$80

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,398

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,370
1$2,3702$2,3953$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 6111 Black Berry Lane Dallas, TX 1
    • 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,205 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $1.07
    •  
  • 6724 Hillbriar Drive Dallas, TX 2
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1972
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.04
    •  
  • 6034 White Rose Trail Dallas, TX 3
    • 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,167 Sqft ∙ Built 1979
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
  • 15624 Golden Creek Road Dallas, TX 4
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1983
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.03
    •  
  • 15110 Leafy Lane Dallas, TX 5
    • 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,141 Sqft ∙ Built 1979
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.17
    •  
PROPERTY LISTING DETAILS
Joanne Thede
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462568
Last Updated: 11/05/2020
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