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686 Austin Lane Lavon, TX 75166

3 Beds 2 Baths 1,873 sqft Built 2010

$249,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $132.94
  • 2 Days on Market
  • MLS # : 14471447
  • Updated Date : 11/14/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,873 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Meticulously maintained one story home in Grand Heritage. Home offers beautiful leaded glass front door, private study with french doors, large laundry room with extra storage for cleaning supplies or second pantry and wood flooring in main living areas. Spacious master suite has expansive walk in closet, deep soaking tub and separate shower. Kitchen has 42 inch cabinets, large pantry, stainless steel appliances and an abundance of counter space fo meal prep or entertaining space. Enjoy the privacy of your backyard with board on board fencing.

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

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
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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$919
Property Tax -$478
Property Insurance -$135
HOA -$67
Property Management Fees -$99
CASH FLOW
$42

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.

$249,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$16,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7404$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 686 Austin Lane Lavon, TX 3
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.93
    •  
  • 675 Austin Lane Lavon, TX 1
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2007
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 310 San Jacinto Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,911 Sqft ∙ Built 2009
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 808 Austin Lane Lavon, TX 4
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 779 Fannin Drive Lavon, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Patty Turner
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471447
Last Updated: 11/14/2020
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