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6216 Los Altos Drive Mesquite, TX 75150

3 Beds 3 Baths 1,868 sqft Built 1989

$240,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $128.48
  • 5 Days on Market
  • MLS # : 14472648
  • Updated Date : 11/21/2020 at 07:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,868 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hometiva

Listing Agent's Description

BEAUTIFUL 2 Story 3 bedroom 2.1 bath in a wonderful family neighborhood. You’ll love the open living area with a decorative fireplace, slate floors, and tall ceilings. The kitchen is equipped with plenty of cabinet space, stainless steel appliances, and a breakfast bar overlooking the SPARKLING POOL! All bedrooms are upstairs featuring hardwood floors. Oversized master bedroom with fireplace. Abundant outdoor living space provides FUN for the entire family. Conveniently located to shopping, dining, Downtown Dallas. This one won't last....come see this home today!

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: Los Altos

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Los Altos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Price Elementary School Primary Regular 515 33 3
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Price Elementary School

  • Education Level: Primary
  • # of students: 515
  • # of teachers: 33
3
GreatSchools Rating

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$886
Property Tax -$582
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
-$112

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.

$240,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.3%
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$6.0k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,254

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5903$1,6354$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 6216 Los Altos Drive Mesquite, TX 2
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.85
    •  
  • 5436 Village Green Drive Mesquite, TX 1
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1981
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 229 Los Santos Drive Garland, TX 3
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1980
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.86
    •  
  • 5222 Woodmeadow Drive Garland, TX 4
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1978
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 525 Granada Drive Garland, TX 5
    • 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 1975 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 1975
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.87
    •  
PROPERTY LISTING DETAILS
Tabor Campbell
Hometiva
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472648
Last Updated: 11/21/2020
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