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622 Bridgewater Street Euless, TX 76039

4 Beds 4 Baths 3,033 sqft Built 2016

$512,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $168.81
  • 3 Days on Market
  • MLS # : 14530035
  • Updated Date : 03/19/2021 at 10:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,033 sqft
  • Baths : 3 full , 1 half
Listing Agent

Darla Barnes

Listing Agent's Description

Spotlessly clean one owner home - this spacious lovingly maintained 4 bed 3.5 bath 2 story with dining, media, gameroom, & outdoor living covered patio with stone fireplace, built in gas grill, frig and tv. Inside includes luxury kitchen with large granite island, 42in cabinets, stainless GE GAS appl, crown molding, tankless water heaters, cedar garage doors, rounded corners. Downstairs master with newly tiled shower with rain shower head & soaker garden tub and dual sinks in master bath. Secondary guest bdrm down. Green star efficient appliances, 16SEER HVAC, radiant barrier, programmable TStat & more! Community pool with outdoor covered entertainment area and large fireplace for neighborhood. Move-in ready!!

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: Villages of Bear Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $122k411k

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

Neighborhood: Villages of Bear Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9932137

* 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
Trinity High School High Regular 2,416 136 7

Trinity High School

  • Education Level: High
  • # of students: 2,416
  • # of teachers: 136
7
GreatSchools Rating
 

$460,800$563,200$512,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,778
Property Tax -$994
Property Insurance -$202
HOA -$63
Property Management Fees -$99
CASH FLOW
-$866

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.

$512,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$141,430

INVESTMENT

$141,430

Down Payment
$128,000
Rehab Estimate
$5,750
Closing Costs
$7,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,000
Loan Amount $384,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$11

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,464

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,4003$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 622 Bridgewater Street Euless, TX 1
    • 4 beds 4 baths ∙ 3,033 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,033 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.75
    •  
  • 706 Angela Lane Euless, TX 2
    • 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,804 Sqft ∙ Built 2004
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 207 Colonial Lane Euless, TX 3
    • 3 beds 3 baths ∙ 2,909 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,909 Sqft ∙ Built 2002
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 604 Erica Lane Euless, TX 4
    • 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,276 Sqft ∙ Built 2004
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 1102 Winston Drive Euless, TX 5
    • 4 beds 3 baths ∙ 3,114 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,114 Sqft ∙ Built 1996
    property image
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
PROPERTY LISTING DETAILS
Darla Barnes
Darla Barnes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530035
Last Updated: 03/19/2021
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