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7041 Dogwood Creek Lane Dallas, TX 75252

3 Beds 2 Baths 1,984 sqft Built 1997

$383,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $193.04
  • 4 Days on Market
  • MLS # : 14468645
  • Updated Date : 11/14/2020 at 17:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,984 sqft
  • Baths : 2 full
Listing Agent

Re/max Premier

Listing Agent's Description

OPEN HOUSE SUNDAY, NOVEMBER 15TH FROM 2:00-4:00 PM. Very cute and bright one story in gated community that backs up to a creek and greenbelt. Very private. Large master with en-suite and large walk-in closet. Oversized family and dining area. High ceilings with rich crown moulding. The sky light in the kitchen makes this home very bright and inviting. Wall of windows in family room allows you to see the panoramic views of creek lot with greenbelt. Feeds into exemplary Plano ISD. Community pool as well and 26 mile paved walking trail that leads all the way to White Rock Lake. Could this be your next home? Don't miss this one!

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Jackson Elementary School Primary Regular 594 54 6
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Jackson Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 54
6
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$344,700$421,300$383,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,413
Property Tax -$756
Property Insurance -$142
HOA -$160
Property Management Fees -$99
CASH FLOW
-$380

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.

$383,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,245

INVESTMENT

$107,245

Down Payment
$95,750
Rehab Estimate
$5,750
Closing Costs
$5,745

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,413

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,750
Loan Amount $287,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,1905$2,300
$2,300
RENT COMPS ANALYSIS
  • 7041 Dogwood Creek Lane Dallas, TX 4
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.10
    •  
  • 6520 Barfield Drive Dallas, TX 1
    • 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 1981
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 6146 Jereme Trail Dallas, TX 2
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 1989
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.05
    •  
  • 17922 Hillcrest Road Dallas, TX 3
    • 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 1983
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 7616 Worthing Street Dallas, TX 5
    • 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 1994
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
PROPERTY LISTING DETAILS
Bridget Todd
Re/max Premier
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468645
Last Updated: 11/14/2020
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