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616 Daisy Drive Desoto, TX 75115

4 Beds 4 Baths 3,183 sqft Built 2002

$340,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $106.82
  • 2 Days on Market
  • MLS # : 14496786
  • Updated Date : 01/09/2021 at 17:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,183 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Corner lot! Pool Home! Well maintained 4bd, 3.5 ba home in an established neighborhood. This home has all the bells and whistles! Home features inground swimming pool with waterfall, Open floor plan, very tall ceilings, A den, Great room boasts a wall of windows and fireplace, Study with French doors, eat-in kitchen with nook, Island ceramic tile backsplash, Master suite has a fireplace, jetted tub and a huge wrap around walk in closet! Separate game room and media room. Cozy backyard, beautiful, landscaped corner lot with sprinklers! Security System(1-Yr old)! Intercom needs update throughout home. Roof 1 year old! This home is located directly across the street from the club house and community swimming pool!

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: Candle Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260kPrice in $122k277k

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

Neighborhood: Candle Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10602430

* 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
Cockrell Hill Elementary School Primary Regular 565 37 5
Desoto West Middle School Middle Regular 709 49 3

Cockrell Hill Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 37
5
GreatSchools Rating

Desoto West Middle School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 49
3
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,181
Property Tax -$813
Property Insurance -$211
HOA -$65
Property Management Fees -$99
CASH FLOW
-$268

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.

$340,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,316

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,3504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 616 Daisy Drive Desoto, TX 1
    • 4 beds 4 baths ∙ 3,183 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,183 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.66
    •  
  • 504 Spicewood Drive Desoto, TX 2
    • 5 beds 3 baths ∙ 3,341 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,341 Sqft ∙ Built 2002
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.64
    •  
  • 720 Candle Meadow Boulevard Desoto, TX 3
    • 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2004
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.77
    •  
  • 1212 Ashford Drive Desoto, TX 4
    • 4 beds 3 baths ∙ 3,198 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,198 Sqft ∙ Built 2006
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.75
    •  
  • 316 Oleander Drive Desoto, TX 5
    • 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,329 Sqft ∙ Built 2002
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
PROPERTY LISTING DETAILS
Lee Buchanan
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496786
Last Updated: 01/09/2021
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