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6704 Longmeadow Drive Sachse, TX 75048

3 Beds 2 Baths 2,092 sqft Built 1996

$284,950

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $136.21
  • 2 Days on Market
  • MLS # : 14485507
  • Updated Date : 12/12/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,092 sqft
  • Baths : 2 full
Listing Agent

North Star Realty

Listing Agent's Description

Welcome beautiful house with convenience location, quiet community. Open floor plan, wood flooring. Big master suite with attached bathroom, spacious backyard, great for family gathering, high ceiling, fresh paint inside. Minute from 190 & Firewheel Mall.

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: Long Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Long Meadows

NeighborhoodNIR 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
Hillside Academy For Excel Primary Magnet 463 29 10
Classical Center At Brandenburg Middle School Middle Magnet 1,158 64 8
Sachse High School High Regular 2,859 159 7

Hillside Academy For Excel

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
10
GreatSchools Rating

Classical Center At Brandenburg Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 64
8
GreatSchools Rating

Sachse High School

  • Education Level: High
  • # of students: 2,859
  • # of teachers: 159
7
GreatSchools Rating
 

$256,455$313,445$284,950

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,051
Property Tax -$674
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
-$52

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.

$284,950

PROJECTED PRICE

$1,920

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,262

INVESTMENT

$81,262

Down Payment
$71,238
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,238
Loan Amount $213,713
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,092

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,9203$2,1454$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 6704 Longmeadow Drive Sachse, TX 2
    • 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.92
    •  
  • 3429 Sachse Road Sachse, TX 1
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1984
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.92
    •  
  • 7307 Hawk Lane Sachse, TX 3
    • 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.97
    •  
  • 7216 Pheasant Court Sachse, TX 4
    • 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,051 Sqft ∙ Built 2002
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.05
    •  
  • 2309 Quail Hollow Drive Sachse, TX 5
    • 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 2004
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.06
    •  
PROPERTY LISTING DETAILS
Hoa Nguyen
North Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485507
Last Updated: 12/12/2020
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