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6139 Veranda Way Dallas, TX 75241

3 Beds 2 Baths 1,996 sqft Built 2005

$221,200

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $110.82
  • 2 Days on Market
  • MLS # : 14497135
  • Updated Date : 01/09/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,996 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

MOVE-IN-READY, LOVELY 3 BEDROOM, 2 FULL BATHROOM HOME IN ESTABLISHED COLLEGE TERRACE NEIGHBORHOOD OFFERS OPEN CONCEPT LIVING, AND SPACIOUS FLOOR PLAN! Nicely maintained home with lots of natural light that flows from the windows. Spacious dining and living area make this home easy to entertain family and friends. The kitchen is open to the living room and offers ample counter space and cabinetry for all of your storage needs. The large fenced in backyard has a great space for the kids and pets to play. Convenient location to I-20 and 45. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: 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
 

$199,080$243,320$221,200

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$768
Property Tax -$524
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$36

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.

$221,200

PROJECTED PRICE

$1,570

PROJECTED RENT

0.71%

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

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$64,368

INVESTMENT

$64,368

Down Payment
$55,300
Rehab Estimate
$5,750
Closing Costs
$3,318

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$768

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,300
Loan Amount $165,900
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$10,835

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,607

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5953$1,6504$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 6139 Veranda Way Dallas, TX 1
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.79
    •  
  • 6214 Balcony Lane Dallas, TX 2
    • 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 3
    • 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 4
    • 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
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497135
Last Updated: 01/09/2021
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