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6626 Meadow Ridge Circle Nevada, TX 75173

3 Beds 2 Baths 1,688 sqft Built 2001

$315,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $186.61
  • 5 Days on Market
  • MLS # : 14473686
  • Updated Date : 11/19/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,688 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors Mck

Listing Agent's Description

Very nice Country Home situated on a One acre cul de sac lot. If you are looking for more space in the country this is the one. Ceramic tile in all wet areas and laminate hardwood flooring in most of the living areas and enclosed sunroom. Decorative paint through out, open kitchen and breakfast bar with freshly painted cabinetry . Large covered back porch. Large fenced in backyard with cross fences. Lots of space to park a camper or motor home. Has RV Hookup and parking with second carport and workshop with electricity. HVAC and Roof replaced in 2016,Water Heater in 2017. Come take a look-This one has something for everyone in the family. Deed restrictions do not allow for horses in the neighborhood.

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $107k338k

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

Zip Code: 75173

ZipNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10451741

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,162
Property Tax -$479
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
-$205

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.

$315,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,401

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,660
$1,660
RENT COMPS ANALYSIS
  • 6626 Meadow Ridge Circle Nevada, TX 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.98
    •  
  • 6985 Meadow Ridge Circle Nevada, TX 1
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 2001
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
PROPERTY LISTING DETAILS
David Hinman
Ebby Halliday, Realtors Mck
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473686
Last Updated: 11/19/2020
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