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7103 Coronado Avenue Dallas, TX 75214

3 Beds 3 Baths 2,344 sqft Built 2003

INVESTimate

$729,000

List Price

$3,160

$2,910 - $3,410

Rent Est.

$787,976  ( +8.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $311.01
  • 3 Days on Market
  • MLS # : 14418619
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,344 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Contemporary home in coveted Lakewood Elementary. Serene clean lines - you’ll love the flow of this property with hardwoods thru out, open kitchen, great backyard space for entertaining with deck, sport court, yard space, and covered patio. This corner lot has beautiful mature trees and walking distance to Lakewood Country Club, Santa Fe Trail, Whole Foods. Don’t miss this gorgeous home.

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: Lakewood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650kPrice in $102k673k

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

Neighborhood: Lakewood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9472899

* 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
Lakewood Elementary School Primary Regular 841 53 10
J.l. Long Middle School Middle Regular 1,299 83 5
Woodrow Wilson High School High Regular 1,697 100 5

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 841
  • # of teachers: 53
10
GreatSchools Rating

J.l. Long Middle School

  • Education Level: Middle
  • # of students: 1,299
  • # of teachers: 83
5
GreatSchools Rating

Woodrow Wilson High School

  • Education Level: High
  • # of students: 1,697
  • # of teachers: 100
5
GreatSchools Rating
 

$656,100$801,900$729,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$2,690
Property Tax -$1,728
Property Insurance -$163
Property Management Fees -$99
CASH FLOW
-$1,520

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.

$729,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.09%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$198,935

INVESTMENT

$198,935

Down Payment
$182,250
Rehab Estimate
$5,750
Closing Costs
$10,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,690

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $182,250
Loan Amount $546,750
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$79

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $1.35

    LIST RENT PER SQFT
  • $3,176

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$3,100
1$3,1002$3,1003$3,1604$3,5005$3,950
$3,950
RENT COMPS ANALYSIS
  • 7103 Coronado Avenue Dallas, TX 3
    • 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,344 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $1.35
    •  
  • 8119 Barbaree Boulevard Dallas, TX 1
    • 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.23
    •  
  • 2224 Forest Hollow Park Dallas, TX 2
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.16
    •  
  • 6035 Chimera Court Dallas, TX 4
    • 3 beds 4 baths ∙ 2,298 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,298 Sqft ∙ Built 2015
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.52
    •  
  • 6322 Vanderbilt Avenue Dallas, TX 5
    • 3 beds 3 baths ∙ 2,619 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,619 Sqft ∙ Built 1996
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.51
    •  
PROPERTY LISTING DETAILS
Marissa Fontanez
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418619
Last Updated: 08/25/2020
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