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643 W Park Drive Keller, TX 76248

4 Beds 2 Baths 2,184 sqft Built 2000

$339,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $155.22
  • 4 Days on Market
  • MLS # : 14462371
  • Updated Date : 11/05/2020 at 16:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,184 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Welcome to the neighborhood. KellerISD! A beautifully updated 4 bd 2 b within walking distance of Bear Creek Park! It boasts 2 generously sized liv areas or flex space flooded with natural light. Walk in closets in every bedrm with a must see gorgeous feature wall in primary bedroom. You'll immediately notice crown molding w high quality, wood laminate flooring as you enter. Great flow, primary bdrm on other side of house, brand new stainless appliances in kitchen, new paint and fixtures throughout. The light and bright prim bath is a relaxing retreat with large tub and separate shower. This home also has sprinkler and security syst, new garage door w updated ext led lights. Great private back yard. No HOA!

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: Westpark Keller

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Westpark Keller

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,251
Property Tax -$711
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
$36

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.

$339,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$21,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,233

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9453$2,0004$2,2505$2,450
$2,450
RENT COMPS ANALYSIS
  • 643 W Park Drive Keller, TX 4
    • 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.03
    •  
  • 1308 Carriage Lane Keller, TX 1
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2000
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
  • 405 Charles Street Keller, TX 2
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2003
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $1.05
    •  
  • 646 W Park Drive Keller, TX 3
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1998
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
  • 997 Pheasant Ridge Keller, TX 5
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1991
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.05
    •  
PROPERTY LISTING DETAILS
Erin Wallace
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462371
Last Updated: 11/05/2020
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