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709 Longleaf Drive Desoto, TX 75115

4 Beds 2 Baths 2,050 sqft Built 1998

$217,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $105.85
  • 5 Days on Market
  • MLS # : 14459807
  • Updated Date : 10/31/2020 at 19:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,050 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Multiple Offers Received. OFFER DEADLINE is SUNDAY 11-1 @ 12pm. This 4 bedroom, 2 bath home has fresh paint. new tile and carpet. professionally cleaned, and is move-in ready. There are two main hallways and each contains 2 bedrooms and is divided by a large guest bathroom. The kitchen has an attached breakfast area and is open to the living area, which makes entertaining much easier. If you prefer gas, you will love this place; gas cooking, heat, and water. The master bedroom is huge and offers a walk-in closet, a garden tub, and a separate shower.

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: Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451822

* 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
Woodridge Elementary School Primary Regular 691 41 3
Desoto East Middle School Middle Regular 687 43 3

Woodridge Elementary School

  • Education Level: Primary
  • # of students: 691
  • # of teachers: 41
3
GreatSchools Rating

Desoto East Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 43
3
GreatSchools Rating
 

$195,300$238,700$217,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$801
Property Tax -$519
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
$36

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.

$217,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.74%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$801

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$13,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6504$1,7755$1,800
$1,800
RENT COMPS ANALYSIS
  • 709 Longleaf Drive Desoto, TX 2
    • 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 547 S Parks Drive Desoto, TX 1
    • 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,007 Sqft ∙ Built 2000
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 608 Duke Drive Desoto, TX 3
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 2003
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 717 Horseshoe Court Desoto, TX 4
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2005
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.83
    •  
  • 512 Dogwood Trail Desoto, TX 5
    • 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,191 Sqft ∙ Built 1998
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Amy Quimby
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459807
Last Updated: 10/31/2020
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