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645 Green Mountain Road Burleson, TX 76028

3 Beds 2 Baths 1,325 sqft Built 1997

$210,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $158.49
  • 4 Days on Market
  • MLS # : 14534588
  • Updated Date : 03/18/2021 at 19:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,325 sqft
  • Baths : 2 full
Listing Agent

Nb Elite Realty

Listing Agent's Description

Multiple offers received. Please submit your highest and best offer by Sunday 5pm. Don't wait this home is going to sell fast. This home has been completely updated, it has new appliances, new flooring, new paint, and is move in ready. You are going to love it.

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: Cedar Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $100k258k

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

Neighborhood: Cedar Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10641734

* 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
Frazier Elementary School Primary Regular 569 36 7
Burleson High School High Regular 1,583 101 7

Frazier Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 36
7
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$729
Property Tax -$503
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$156

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.

$210,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,292

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,280
1$1,2802$1,3993$1,5004$1,5005$1,549
$1,549
RENT COMPS ANALYSIS
  • 645 Green Mountain Road Burleson, TX 1
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.97
    •  
  • 629 Green Mountain Road Burleson, TX 2
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1997
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.96
    •  
  • 769 Charlyne Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1977
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 1009 Vista View Drive Burleson, TX 4
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 2008
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 848 Beaver Creek Drive Burleson, TX 5
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2000
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.96
    •  
PROPERTY LISTING DETAILS
Anthony Coleman
Nb Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534588
Last Updated: 03/18/2021
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