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717 Fieldwood Drive Mesquite, TX 75150

3 Beds 2 Baths 1,839 sqft Built 1983

$199,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $108.70
  • 3 Days on Market
  • MLS # : 14513795
  • Updated Date : 02/06/2021 at 15:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,839 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! SUBMIT HIGHEST AND BEST OFFER BY SUNDAY 12 PM Nice one story home in great area! Perfect for any buyer or investor. Being Sold As-Is and priced $30K below value for updates needed. Close to schools and shopping and award winning Mesquite ISD. This amazing home has so much to offer. 3 bedrooms, 2 full baths, plus a study or bonus room and 2 additional enclosed areas great for space. Open floorplan with big kitchen and island that overlook the living room and separate dining area. Wood flooring installed in 2015, HVAC replaced 2017. Foundation work completed 2014. Refrigerator, washer and dryer included. Oversized garage with workbench. Big storage building outside with electric.

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
Kimbrough Middle School Middle Regular 846 51 7
Poteet High School High Regular 1,743 113 6

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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$694
Property Tax -$485
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
$258

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.

$199,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.84%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$30,616

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6704$1,7455$1,795
$1,795
RENT COMPS ANALYSIS
  • 717 Fieldwood Drive Mesquite, TX 3
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.91
    •  
  • 2511 Meadow Ridge Drive Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1990
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 714 Harvester Lane Mesquite, TX 2
    • 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,756 Sqft ∙ Built 1985
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 513 Quail Hollow Drive Mesquite, TX 4
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1982
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.95
    •  
  • 521 Clear Springs Drive Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 1991
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
PROPERTY LISTING DETAILS
Crystal Garvin
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513795
Last Updated: 02/06/2021
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