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612 Renee Lane Desoto, TX 75115

3 Beds 2 Baths 1,998 sqft Built 1984

$199,990

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $100.10
  • 5 Days on Market
  • MLS # : 14494945
  • Updated Date : 01/06/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,998 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors-prosper

Listing Agent's Description

PERFECT INVESTMENT PROPERTY!! Located in the heart of DeSoto. This spacious home sits on a nice sized lot with beautiful trees in a quiet neighborhood. 3-bedrooms, 2-bathrooms, open floor plan. Phenomenal timing to own this home at a great price.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: South Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: South Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10191741

* 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
The Meadows Elementary School Primary Regular 546 32 4
Desoto East Middle School Middle Regular 687 43 3

The Meadows Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 32
4
GreatSchools Rating

Desoto East Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 43
3
GreatSchools Rating
 

$179,991$219,989$199,990

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$695
Property Tax -$532
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$272

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.

$199,990

PROJECTED PRICE

$1,740

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.9%
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$900k

PROJECTED ANNUAL CASH FLOW

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

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$58,747

INVESTMENT

$58,747

Down Payment
$49,998
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,998
Loan Amount $149,993
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$31,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,7403$1,7954$1,8755$1,945
$1,945
RENT COMPS ANALYSIS
  • 612 Renee Lane Desoto, TX 2
    • 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,998 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.87
    •  
  • 308 Davis Drive Desoto, TX 1
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1965
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 630 Rickey Canyon Avenue Desoto, TX 3
    • 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,017 Sqft ∙ Built 1985
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 533 Wendy Lane Desoto, TX 4
    • 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 1997
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.89
    •  
  • 507 Parks Court Desoto, TX 5
    • 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,135 Sqft ∙ Built 1997
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jason Mathias
Ebby Halliday, Realtors-prosper
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494945
Last Updated: 01/06/2021
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