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613 Goldenrod Court Desoto, TX 75115

4 Beds 2 Baths 2,132 sqft Built 2013

$230,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $107.88
  • 5 Days on Market
  • MLS # : 14462702
  • Updated Date : 10/31/2020 at 22:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,132 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

Come see this Immaculate 1 owner home located in the sought out Summer Meadows Subdivision. This beauty was built in 2013, it's a one story open floor plan thats just in time for the all the holidays. Ceramic tile in all wet areas, carpet in bedrooms and formal dining OR office area, and laminate wood in living area. Large Master bedroom split from all 3 bedrooms with a walk in shower and separate tub. Enjoy this corner lot home with large covered front and back porch and a newly installed deck. Hurry Fast this Gem won't last! NO MORE SHOWINGS Per the sellers! They’ve had over 100 showings and currently have 27 offers. Sellers will make a decision by Sunday evening.

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: Summer Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k253k

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

Neighborhood: Summer Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451746

* 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
Woodridge Elementary School Primary Regular 691 41 3
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Woodridge Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 41
3
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$849
Property Tax -$550
Property Insurance -$150
HOA -$15
Property Management Fees -$99
CASH FLOW
$108

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.

$230,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$20,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6503$1,7704$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 613 Goldenrod Court Desoto, TX 3
    • 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,132 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.83
    •  
  • 608 Skyflower Court Desoto, TX 1
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2005
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.81
    •  
  • 633 Snapdragon Lane Desoto, TX 2
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2003
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 717 Horseshoe Court Desoto, TX 4
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2005
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.83
    •  
  • 1205 Beeblossom Drive Desoto, TX 5
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 2003
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Keleisha Anderson
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462702
Last Updated: 10/31/2020
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