Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6340 Llano Avenue Dallas, TX 75214

8 Beds 4 Baths 2,736 sqft Built 1925 2 Units

$545,995

List Price

$5,000

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

2 Units MULTIFAMILY
FACTS
  • Built In 1925
  • Price/Sqft : $199.56
  • 89 Days on Market
  • MLS # : 14407002
  • Updated Date : 10/26/2020 at 13:30
CONSTRUCTION
  • Beds : 8
  • Floor Size : 2,736 sqft
  • Baths : 4 full
Listing Agent

Ready Real Estate

Listing Agent's Description

Beautiful and timeless 4 bed 2 bath Tudor full duplex in the Lakewood Heights area of Dallas. Gorgeous real hardwood floors throughout. Upstairs unit has been completely remodeled with a light and modern design, with new kitchen, bathroom, lighting fixtures, and appliances. Spacious main bedroom with walk-out patio. In addition, there is plenty of room for covered parking via a 4-spot carport in the back. One of the most amenity rich locations in Dallas. Come live within a short distance of White Rock Lake, Whole Foods, and a 9-acre park which boasts a pool, athletic courts, and a picnic pavilion. Downstairs unit occupied by longtime tenant month-to-month at $1,500. Schedule a tour today.

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

Neighborhood: Lakewood Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $102k696k

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

Neighborhood: Lakewood Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800300032003400Rent in $9473511

* 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
Geneva Heights Elementary School Primary Regular 351 26 5
J.l. Long Middle School Middle Regular 1,299 83 5
Woodrow Wilson High School High Regular 1,697 100 5

Geneva Heights Elementary School

  • Education Level: Primary
  • # of students: 351
  • # of teachers: 26
5
GreatSchools Rating

J.l. Long Middle School

  • Education Level: Middle
  • # of students: 1,299
  • # of teachers: 83
5
GreatSchools Rating

Woodrow Wilson High School

  • Education Level: High
  • # of students: 1,697
  • # of teachers: 100
5
GreatSchools Rating
 

$491,396$600,595$545,995

PURCHASE PRICE

$4,500$5,500$5,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,000
EXPENSES Loan Payment -$2,014
Property Tax -$1,295
Property Insurance -$185
HOA -$120
Property Management Fees -$198
CASH FLOW
$1,188

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.

$545,995

PROJECTED PRICE

$5,000

PROJECTED RENT

0.92%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

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$156,189

INVESTMENT

$156,189

Down Payment
$136,499
Rehab Estimate
$11,500
Closing Costs
$8,190

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$2,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $136,499
Loan Amount $409,496
See What Happens When You Reinvest Cash Flow

14.25

YEARS SAVED

$147,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Brett Schumann
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14407002
Last Updated: 10/26/2020
BESbswy