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7008 Lyndale Drive Watauga, TX 76148

3 Beds 3 Baths 1,796 sqft Built 1990

$247,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $138.03
  • 4 Days on Market
  • MLS # : 14509677
  • Updated Date : 02/06/2021 at 18:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,796 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Multiple offers received so please have final and best offer by 4 PM Monday 2-8-2021 Enjoy peaceful evenings entertaining friends on the back patio. New carpet recently installed and home is ready for your final updates and style. All three bedrooms are upstairs and office is downstairs. See Zillow for 3D tour today!

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

Neighborhood: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $87k243k

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

Neighborhood: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8841734

* 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
Grace E. Hardeman Elementary School Primary Regular 748 44 8
Watauga Middle School Middle Regular 760 49 6
Haltom High School High Regular 2,581 162 4

Grace E. Hardeman Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 44
8
GreatSchools Rating

Watauga Middle School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 49
6
GreatSchools Rating

Haltom High School

  • Education Level: High
  • # of students: 2,581
  • # of teachers: 162
4
GreatSchools Rating
 

$223,110$272,690$247,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$861
Property Tax -$547
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$162

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.

$247,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.1%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$71,444

INVESTMENT

$71,444

Down Payment
$61,975
Rehab Estimate
$5,750
Closing Costs
$3,719

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$861

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,975
Loan Amount $185,925
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$24,077

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6503$1,8004$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 7008 Lyndale Drive Watauga, TX 4
    • 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,796 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 7021 Spring Creek Trail Watauga, TX 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1986
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
  • 7104 Meadowbrook Drive Watauga, TX 2
    • 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,596 Sqft ∙ Built 1993
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 6921 Quail Meadow Drive Watauga, TX 3
    • 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1987
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 6820 Bernadine Drive Watauga, TX 5
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1993
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
PROPERTY LISTING DETAILS
Dan Combe
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509677
Last Updated: 02/06/2021
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