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704 Bryan Drive Burleson, TX 76028

3 Beds 2 Baths 1,586 sqft Built 1989

$228,500

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $144.07
  • 6 Days on Market
  • MLS # : 14430127
  • Updated Date : 11/20/2020 at 13:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,586 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Burleson

Listing Agent's Description

Impeccable 1 story home on a large lot with lots of mature trees and St. Augustine grass The interior of the home has a fresh neutral color scheme Meticulously maintained and move-in ready. Large living room with WBFP and built-in shelves Kitchen has cabinet and counter space galore! Large master bedroom and bath with garden tub tiled walk-in shower, dual sinks Wonderful back yard with covered patio New Roof, Quiet neighborhood close to shopping and restaurants

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: Summer Crest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $83k258k

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

Neighborhood: Summer Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Mound Elementary School Primary Regular 424 29 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Mound Elementary School

  • Education Level: Primary
  • # of students: 424
  • # of teachers: 29
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
 

$205,650$251,350$228,500

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$843
Property Tax -$548
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
-$109

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.

$228,500

PROJECTED PRICE

$1,500

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$66,303

INVESTMENT

$66,303

Down Payment
$57,125
Rehab Estimate
$5,750
Closing Costs
$3,428

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$843

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,125
Loan Amount $171,375
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,080

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5004$1,5955$1,599
$1,599
RENT COMPS ANALYSIS
  • 704 Bryan Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 833 Barkridge Trail Burleson, TX 1
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1976
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
  • 769 Charlyne Drive Burleson, TX 2
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1977
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 744 Tanglewood Drive Burleson, TX 4
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2004
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 780 Hampshire Drive Burleson, TX 5
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 1984
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.93
    •  
PROPERTY LISTING DETAILS
Nora Cobb
Jp And Associates Burleson
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14430127
Last Updated: 11/20/2020
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