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713 Retriever Lane Mesquite, TX 75150

3 Beds 2 Baths 1,766 sqft Built 1985

$230,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $130.24
  • 2 Days on Market
  • MLS # : 14474308
  • Updated Date : 11/21/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,766 sqft
  • Baths : 2 full
Listing Agent

Mccaw Property Management, Llc

Listing Agent's Description

Beautiful and bright, well-maintained 3BR & 2BA in a great location!   This inviting home has an open floor plan with ample natural light and plenty of upgrades!  Features include luxury vinyl plank flooring, gas fireplace, neutral colors, spacious rooms, updated bathrooms, recently updated HVAC & HWH and backyard with privacy fence! Fall in love with the incredible kitchen with tons of storage,  bar sink, serving area, stainless steel appliances, granite countertops, window over the sink, breakfast nook & bay window! Dining, entertainment, shopping & parks nearby! At this great price - this home won't last long!!

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: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Quail Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701734

* 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
Austin Elementary School Primary Regular 474 29 4
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

Austin Elementary School

  • Education Level: Primary
  • # of students: 474
  • # of teachers: 29
4
GreatSchools Rating

Kimbrough Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 51
7
GreatSchools Rating

Poteet High School

  • Education Level: High
  • # of students: 1,743
  • # of teachers: 113
6
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$849
Property Tax -$558
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$45

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.

$230,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.4%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6503$1,6504$1,6505$1,795
$1,795
RENT COMPS ANALYSIS
  • 713 Retriever Lane Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.90
    •  
  • 2511 Meadow Ridge Drive Mesquite, TX 2
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1990
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 714 Harvester Lane Mesquite, TX 3
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1985
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 518 Feathercrest Lane Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1983
    property image
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 404 Quail Hollow Drive Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1983
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
PROPERTY LISTING DETAILS
Heather Phildius
Mccaw Property Management, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474308
Last Updated: 11/21/2020
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