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6135 Symphony Lane Dallas, TX 75227

3 Beds 2 Baths 2,004 sqft Built 1981

INVESTimate

$235,000

List Price

$2,020

$1,818 - $2,222

Rent Est.

$272,671  ( +16.03%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $117.27
  • 7 Days on Market
  • MLS # : 14417053
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,004 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Great location and a great price! Only minutes from downtown and close to everything! Enjoy a stroll in the park just a few steps away. Just a few blocks from the freeway makes the commute easy. This brick 3 bedroom 2 bath home has 2 living areas, 2 dining areas and a 2 car garage. It boasts a wood burning fireplace and picture frame molding in the formal living room, a garden tub in the master bedroom and so much more. All it needs is your personal touch. Come see it today and make it yours!

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: Buckner Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Buckner Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451850

* 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
Frank Guzick Elementary School Primary Regular 749 42 4
Harold Wendell Lang Sr. Middle School Middle Regular 1,016 68 3
Skyline High School High Magnet 4,790 283 3

Frank Guzick Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 42
4
GreatSchools Rating

Harold Wendell Lang Sr. Middle School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 68
3
GreatSchools Rating

Skyline High School

  • Education Level: High
  • # of students: 4,790
  • # of teachers: 283
3
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$867
Property Tax -$557
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$354

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.

$235,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 16.03%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$47,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,034

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,0204$2,1005$2,350
$2,350
RENT COMPS ANALYSIS
  • 6135 Symphony Lane Dallas, TX 3
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.01
    •  
  • 5227 Banting Way Dallas, TX 1
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1968
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 5137 Breakwood Drive Dallas, TX 2
    • 3 beds 3 baths ∙ 2,025 Sqft ∙ Built 1966 3 beds 3 baths ∙ 2,025 Sqft ∙ Built 1966
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 5028 Hollow Ridge Road Dallas, TX 4
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1985
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 5215 Elkridge Drive Dallas, TX 5
    • 3 beds 3 baths ∙ 2,119 Sqft ∙ Built 1968 3 beds 3 baths ∙ 2,119 Sqft ∙ Built 1968
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.11
    •  
PROPERTY LISTING DETAILS
Darrell Johnson
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417053
Last Updated: 08/20/2020
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