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6500 Jeffferson Paige Shreveport, LA 71119

4 Beds 2 Baths 1,845 sqft Built 1980

$239,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $130.03
  • 2 Days on Market
  • MLS # : 279761NL
  • Updated Date : 03/19/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,845 sqft
  • Baths : 2 full
Listing Agent

Primeaux Realty, Llc

Listing Agent's Description

Remarkable country setting while close to the best shopping/dining & recreation the arae has to offer via I-20, I-220, Hwy 3132 Pines Rd., cross lake and more fun stuff. Completely remodeled and updated to include paint, Stainless Steel Appliances, HVAC, water heater, roof, insulation, cabinets/vanities, quartz counter/vanity tops, backsplash, lights/fans, flooring (refinished hardwood floors, ceramic tile flooring and laminate), large front and rear deck. Home includes an oversized 2 car garage, with 12' ceiling, a 30' X 40' workshop sitting on just shy of 7 acres. Extra long cement driveway flanked with trees enlightens the beginning of your day and is the highlight of the end of your day. BROKER/OWNER Pricing Strategy - Home and 1 acre approximately worth $160,000/@ $85 Per SF, 6 acres approximately $60,000, 30' X 40"shop approximately $25,000 = $245,000. Call for a individual showing.

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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: Western Hills and Yarborough

NeighborhoodNIR Market*CityMarket2010Year2004 Q3201975k80k85k90k95k100k105k110k115k120k125k130k135k140kPrice in $73k144k

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

Neighborhood: Western Hills and Yarborough

NeighborhoodNIR Market*CityMarket2015Year2009 Q32019 Q28509009501000105011001150Rent in $8481167

* 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
Claiborne Fundamental Elementary School Primary Magnet 401 26 10
Caddo Middle Magnet Middle Magnet 1,281 65 10
Caddo Parish Magnet High School High Magnet 1,122 69 9

Claiborne Fundamental Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 26
10
GreatSchools Rating

Caddo Middle Magnet

  • Education Level: Middle
  • # of students: 1,281
  • # of teachers: 65
10
GreatSchools Rating

Caddo Parish Magnet High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 69
9
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$833
Property Tax -$307
Property Insurance -$62
Property Management Fees -$99
CASH FLOW
$99

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$239,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 1.87%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.23%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$10,873

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,375

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4003$1,595
$1,595
RENT COMPS ANALYSIS
  • 6500 Jeffferson Paige Shreveport, LA 2
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 3130 Linda Street Shreveport, LA 1
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1984
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.63
    •  
  • 3622 Lakeside Drive Shreveport, LA 3
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1995
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
PROPERTY LISTING DETAILS
James Stewart
Primeaux Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 279761NL
Last Updated: 03/19/2021
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