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6313 Catalpa Drive Midlothian, TX 76065

3 Beds 2 Baths 2,143 sqft Built 2021

$369,860

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $172.59
  • 7 Days on Market
  • MLS # : 14515040
  • Updated Date : 02/08/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,143 sqft
  • Baths : 2 full
Listing Agent

Re/max Proadvantage

Listing Agent's Description

A stunning 3-bedroom home with space all in the right areas, including the garage! Enjoy an open floorplan and a flow that allows for entertaining. Wood floors and awesome upgrades - beautiful granite in kitchen. White cabinetry. Tankless! Long 3-car tandem garage welcomes oversized trucks or even a boat or shop space. Ready now!!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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.a. Vitovsky Elementary Primary Regular 646 47 4
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.a. Vitovsky Elementary

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 47
4
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$332,874$406,846$369,860

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,285
Property Tax -$807
Property Insurance -$151
HOA -$54
Property Management Fees -$99
CASH FLOW
-$276

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$369,860

PROJECTED PRICE

$2,120

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,013

INVESTMENT

$100,013

Down Payment
$92,465
Rehab Estimate
$2,000
Closing Costs
$5,548

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,465
Loan Amount $277,395
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,876

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,150

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1203$2,2504$2,400
$2,400
RENT COMPS ANALYSIS
  • 6313 Catalpa Drive Midlothian, TX 2
    • 3 beds 2 baths ∙ 2,143 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,143 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.99
    •  
  • 3509 Weyburn Drive Mansfield, TX 1
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 2608 Chadwick Lane Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2019
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 3208 Treyburn Lane Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2018
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
PROPERTY LISTING DETAILS
Ginger Weeks
Re/max Proadvantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515040
Last Updated: 02/08/2021
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