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719 Bayou Drive Glenn Heights, TX 75154

3 Beds 2 Baths 1,492 sqft Built 2012

$224,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $150.13
  • 2 Days on Market
  • MLS # : 14509569
  • Updated Date : 01/30/2021 at 20:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,492 sqft
  • Baths : 2 full
Listing Agent

Essence V. Real Estate & Assoc

Listing Agent's Description

MUTIPLE OFFERS! PLEASE SUBMIT BEST AND FINAL OFFER BY MONDAY 5PM. Welcome New Listing Desoto ISD. This well maintained 3 bedroom 2 bathroom features wood flooring, a huge master bath with double sinks, tub and shower combo with a separate toilet and large walk-in closet. You can cozy up to your wood burning fireplace or cook up your favorite meal in this spacious kitchen with granite like countertop, cover back patio and a nice size yard. Don't miss out on this Gem! Information deemed reliable and accurate, but not guaranteed. Buyer and broker to verify all information.

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: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Heritage Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Frank D. Moates Elementary School Primary Regular 641 39 4
Curtistene S Mccowan Middle School Middle Regular 846 52 2

Frank D. Moates Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 39
4
GreatSchools Rating

Curtistene S Mccowan Middle School

  • Education Level: Middle
  • # of students: 846
  • # of teachers: 52
2
GreatSchools Rating
 

$201,600$246,400$224,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$778
Property Tax -$565
Property Insurance -$113
HOA -$22
Property Management Fees -$99
CASH FLOW
$63

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.

$224,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.9%
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$65,110

INVESTMENT

$65,110

Down Payment
$56,000
Rehab Estimate
$5,750
Closing Costs
$3,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$778

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,000
Loan Amount $168,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$12,707

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,660

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,7454$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 719 Bayou Drive Glenn Heights, TX 2
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.10
    •  
  • 1804 Dartmouth Drive Glenn Heights, TX 1
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1999
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 1609 Columbia Drive Glenn Heights, TX 3
    • 4 beds 2 baths ∙ 1,487 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,487 Sqft ∙ Built 1998
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.17
    •  
  • 1506 Waters Edge Drive Glenn Heights, TX 4
    • 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,592 Sqft ∙ Built 2005
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.10
    •  
  • 714 Saline Creek Drive Glenn Heights, TX 5
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 2012
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
PROPERTY LISTING DETAILS
Archibald Munford
Essence V. Real Estate & Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509569
Last Updated: 01/30/2021
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