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708 Brees Drive Desoto, TX 75115

3 Beds 2 Baths 2,032 sqft Built 1991

$259,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $127.46
  • 1 Days on Market
  • MLS # : 14537198
  • Updated Date : 03/21/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,032 sqft
  • Baths : 2 full
Listing Agent

Lone Star Realty Group, Llc

Listing Agent's Description

GREAT floorplan in family friendly neighborhood! This home features formal dining, large secondary bedrooms, HUGE living with vaulted ceilings and floor to ceiling brick fireplace. The second living makes for a great office, a 4th bedroom, or kids retreat behind double doors. The kitchen features built in SS microwave, SS stove, breakfast bar, large breakfast area with window seat. The LARGE master suite has a sitting area, jetted tub, his and her walk-in closets and vanities. Ceiling fans throughout. Tenants in process of moving out. Pictures were taken before current tenants moved in.

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: Eagle Downs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Eagle Downs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451770

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Desoto West Middle School Middle Regular 709 49 3

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Desoto West Middle School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 49
3
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$900
Property Tax -$619
Property Insurance -$145
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.

$259,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,758

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,610
1$1,6102$1,6953$1,7204$1,8755$2,075
$2,075
RENT COMPS ANALYSIS
  • 708 Brees Drive Desoto, TX 3
    • 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,032 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.85
    •  
  • 913 Wentwood Drive Desoto, TX 1
    • 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,889 Sqft ∙ Built 1992
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.85
    •  
  • 717 Claire View Drive Desoto, TX 2
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1992
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 920 Eagle Drive Desoto, TX 4
    • 3 beds 2 baths ∙ 2,174 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,174 Sqft ∙ Built 1986
    property image
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.86
    •  
  • 820 Claire View Drive Desoto, TX 5
    • 3 beds 1 baths ∙ 2,376 Sqft ∙ Built 1991 3 beds 1 baths ∙ 2,376 Sqft ∙ Built 1991
    property image
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.87
    •  
PROPERTY LISTING DETAILS
Don Nguyen
Lone Star Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537198
Last Updated: 03/21/2021
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