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616 Alabaster Place Cedar Hill, TX 75104

3 Beds 2 Baths 1,324 sqft Built 1996

$215,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $162.39
  • 2 Days on Market
  • MLS # : 14536954
  • Updated Date : 03/20/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,324 sqft
  • Baths : 2 full
Listing Agent

City Life Realty, Llc

Listing Agent's Description

Pride of ownership shows in this well maintained 3 bdrm, 2ba, 2 car one story brick home. The property has an open concept kitchen, dining and living area with wood flooring. Oversized master bedroom allows room for a sitting area. A generous sized backyard would make a fabulous vegetable garden. Buyers will enjoy the local walking, hiking and biking paths as well as close proximity to shopping, recreation center, parks and restaurants. Easy access to I20 and US 67. Come visit your new home today. PROPERTY AVAILABLE TO SHOW BEGINNING AT 2:00PM, MARCH 20, 2021.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Hillcrest South

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Hillcrest South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9031740

* 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
Bray Elementary School Primary Regular 301 20 4
Bessie Coleman Middle School Middle Regular 588 35 4
Cedar Hill High School High Regular 1,731 105 2

Bray Elementary School

  • Education Level: Primary
  • # of students: 301
  • # of teachers: 20
4
GreatSchools Rating

Bessie Coleman Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 35
4
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$747
Property Tax -$489
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$109

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.

$215,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$2,667

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,327

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3303$1,5454$1,6255$1,650
$1,650
RENT COMPS ANALYSIS
  • 616 Alabaster Place Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.00
    •  
  • 446 Justice Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1982
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
  • 971 N Brookside Drive Cedar Hill, TX 3
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1985
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.98
    •  
  • 600 Imperial Place Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1995
    property image
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.03
    •  
  • 411 Mckinley Street Cedar Hill, TX 5
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1982
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Robert Kirkpatrick
City Life Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536954
Last Updated: 03/20/2021
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