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700 Evergreen Court Burleson, TX 76028

3 Beds 2 Baths 2,496 sqft Built 2007

INVESTimate

$299,999

List Price

$1,820

$1,638 - $2,002

Rent Est.

$316,199  ( +5.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $120.19
  • 3 Days on Market
  • MLS # : 14415584
  • Updated Date : 08/24/2020 at 19:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,496 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

BEAUTIFUL home in a cul-de-sac with oversized pie shape lot and tons of room for pool. Formal dining room with lots of light. Open living and breakfast to spacious kitchen with breakfast bar. Added feature of small office space open to kitchen. Master suite and bath are at back of house near utility for easy laundry days. Other side of home has game room or additional living space for kids with 2nd bathroom. Up stairs is a loft area that can be what you want it to be - game room, media, or even another bedroom (no closet). Burleson ISD is schools of choice! Community has tons of amenities including a community pool, park, running trails, playground. Come see it and get us an offer!

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: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261996

* 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
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,107
Property Tax -$750
Property Insurance -$171
HOA -$28
Property Management Fees -$99
CASH FLOW
-$335

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.

$299,999

PROJECTED PRICE

$1,820

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,8204$1,8505$2,025
$2,025
RENT COMPS ANALYSIS
  • 700 Evergreen Court Burleson, TX 3
    • 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.73
    •  
  • 921 Redbud Road Burleson, TX 1
    • 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 324 Snapdragon Court Burleson, TX 2
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 324 Coral Vine Lane Burleson, TX 4
    • 3 beds 3 baths ∙ 2,567 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,567 Sqft ∙ Built 2013
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 1131 Foxglove Lane Burleson, TX 5
    • 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2012
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.81
    •  
PROPERTY LISTING DETAILS
Mikaela Camacho
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415584
Last Updated: 08/24/2020
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