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712 Baldridge Road Burleson, TX 76028

3 Beds 2 Baths 2,066 sqft Built 1993

INVESTimate

$225,000

List Price

$1,680

$1,512 - $1,848

Rent Est.

$241,740  ( +7.44%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $108.91
  • 7 Days on Market
  • MLS # : 14417716
  • Updated Date : 08/25/2020 at 18:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,066 sqft
  • Baths : 2 full
Listing Agent

Crumbie Real Estate, Llc

Listing Agent's Description

Charming and spacious home! 3 BDR, 2 BTH, with extra living room that could be used as a sunroom, study, or playroom. Good size kitchen with instant hot water faucet at sink. Large laundry room with space for freezer. Breakfast nook with built-in hutch and separate formal dining room. Very large living room with WBFP. Master BDR and en-suite bathroom features jetted tub and stained glass window. 2 car garage with workbench. New HVAC in 2012; new roof in 2016. Security system, Nest thermostat, and Ring-type doorbell. Established neighborhood conveniently located near shopping, I-35, and elementary school. Very nice floor plan and comfortable living spaces. Privacy-fenced back yard and storage shed for extras!

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: Alsbury Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $101k258k

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

Neighborhood: Alsbury Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Jack Taylor Elementary School Primary Regular 492 33 5
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Jack Taylor Elementary School

  • Education Level: Primary
  • # of students: 492
  • # of teachers: 33
5
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$830
Property Tax -$629
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
-$25

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.

$225,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.44%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,563

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,680
1$1,6802$1,6953$1,7454$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 712 Baldridge Road Burleson, TX 1
    • 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,066 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.81
    •  
  • 1282 Wysteria Lane Burleson, TX 2
    • 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,171 Sqft ∙ Built 2012
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 706 Windridge Lane Burleson, TX 3
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1993
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.80
    •  
  • 1133 Scarlet Sage Parkway Burleson, TX 4
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 12516 Patnoe Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 2007
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
PROPERTY LISTING DETAILS
April Hubbard
Crumbie Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417716
Last Updated: 08/25/2020
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