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6610 Judy Drive Midlothian, TX 76065

4 Beds 3 Baths 2,523 sqft Built 2013

$450,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $178.36
  • 4 Days on Market
  • MLS # : 14479002
  • Updated Date : 12/04/2020 at 14:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,523 sqft
  • Baths : 3 full
Listing Agent

Luxe Real Estate Advisors Llc

Listing Agent's Description

NO CITY TAXES!Located in the highly sought-after Shiloh Forest!This beautiful John Houston home is on a fully fenced premium LARGE lot.Walking distance to McClatchey Elem.Home has 4 BR,3 FB and office with 3 car garage.Primary BR has an oversized shower with his and hers vanities.The kitchen and living room areas offer an open concept and has access to a covered back porch for plenty of room to entertain with fireplace. There is unlimited potential for an outdoor oasis!The living room has gorgeous wood flooring.Entire yard has full irrigation.Gutters have recently been added.There’s electrical available on the back porch for a hot tub. Beautiful landscaping and freshly cleaned carpet.Seller is selling AS IS!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Dolores Mcclatchey Elementary School Primary Regular NA
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Dolores Mcclatchey Elementary School

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

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

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

$405,000$495,000$450,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,660
Property Tax -$982
Property Insurance -$173
HOA -$25
Property Management Fees -$99
CASH FLOW
-$309

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.

$450,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,616

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,475
1$2,4752$2,6003$2,6304$2,725
$2,725
RENT COMPS ANALYSIS
  • 6610 Judy Drive Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.04
    •  
  • 3911 Alpha Way Midlothian, TX 1
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 2005
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.96
    •  
  • 4411 Morninglory Parkway Midlothian, TX 2
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 2014
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 5811 Jennifer Lane Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,462 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $1.11
    •  
PROPERTY LISTING DETAILS
Alexandra Hendrickson
Luxe Real Estate Advisors Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479002
Last Updated: 12/04/2020
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