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6526 La Manga Drive Dallas, TX 75248

4 Beds 3 Baths 2,328 sqft Built 1980

$604,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $259.84
  • 3 Days on Market
  • MLS # : 14506750
  • Updated Date : 01/29/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,328 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Showstopper! Stunning modern renovation in coveted Prestonwood zoned to RISD and sought after Brentfield, Parkhill, and Pearce. Spacious plan with formal dining open to kitchen and living that overlooks beautiful pool and spa. Professionally designed renovations. Soaring ceilings and large windows fill the home with natural light. Elegance flows throughout and no detail was missed in renovations. The serene primary suite features an amazing bath with a stylish tub, separate shower, dual sinks, and custom walk-in closet. Private backyard oasis with patio and sparkling pool provides additional outdoor living and entertaining space. Don't miss the full list of updates attached! 3D tour online!

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: Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k413k

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

Neighborhood: Prestonwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9472886

* 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
Parkhill Junior High School Middle Regular 629 39 8
Pearce High School High Regular 2,253 144 6
Parkhill Junior High School Middle Unknown NA

Parkhill Junior High School

  • Education Level: Middle
  • # of students: 629
  • # of teachers: 39
8
GreatSchools Rating

Pearce High School

  • Education Level: High
  • # of students: 2,253
  • # of teachers: 144
6
GreatSchools Rating

Parkhill Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$544,410$665,390$604,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$2,101
Property Tax -$1,434
Property Insurance -$162
HOA -$8
Property Management Fees -$99
CASH FLOW
-$1,354

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.

$604,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$166,049

INVESTMENT

$166,049

Down Payment
$151,225
Rehab Estimate
$5,750
Closing Costs
$9,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,101

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $151,225
Loan Amount $453,675
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$218

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,450

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,5004$2,5005$2,695
$2,695
RENT COMPS ANALYSIS
  • 6526 La Manga Drive Dallas, TX 2
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.05
    •  
  • 6312 Hickory Hill Drive Dallas, TX 1
    • 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 1983
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.00
    •  
  • 15624 Golden Creek Road Dallas, TX 3
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1983
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.03
    •  
  • 7329 Foxworth Drive Dallas, TX 4
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 1972
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
  • 6901 Brentfield Drive Dallas, TX 5
    • 4 beds 4 baths ∙ 2,481 Sqft ∙ Built 1977 4 beds 4 baths ∙ 2,481 Sqft ∙ Built 1977
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.09
    •  
PROPERTY LISTING DETAILS
Justin Martin
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506750
Last Updated: 01/29/2021
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