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721 Salvia Court Midlothian, TX 76065

4 Beds 4 Baths 3,479 sqft Built 2021

$468,162

List Price

$2,890

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $134.57
  • 5 Days on Market
  • MLS # : 14516625
  • Updated Date : 02/10/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,479 sqft
  • Baths : 3 full , 1 half
Listing Agent

Classic Property Management

Listing Agent's Description

Beautiful and Brand New Home by Bloomfield Homes, Move-in Ready Summer 2021! Open Floorplan that offers all the spaces you and your family are looking for - Study, Dining, Media Room and Game Room. Stone & Brick Exterior with 8' Glass Panel front door and Cedar Garage doors. Large Body Tile throughout living areas; carpet in bdrms. Deluxe Kitchen with built-in SS Appliances, under-cabinet lighting, sparkling white granite countertops & Contemporary finishes. Family Room features Vaulted Ceilings and Stone to Ceiling, Wood-burning Fireplace with Cedar Hearth. Upstairs Game Room overlooks living space below. Yard fenced and fully landscaped with irrigation system. So much included, call today to learn more!

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Longbranch Elementary School Primary Regular 705 42 7
Walnut Grove Middle School Middle Regular 1,014 55 8
Heritage High School High Regular NA

Longbranch Elementary School

  • Education Level: Primary
  • # of students: 705
  • # of teachers: 42
7
GreatSchools Rating

Walnut Grove Middle School

  • Education Level: Middle
  • # of students: 1,014
  • # of teachers: 55
8
GreatSchools Rating

Heritage High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$421,346$514,978$468,162

PURCHASE PRICE

$2,601$3,179$2,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,890
EXPENSES Loan Payment -$1,626
Property Tax -$1,022
Property Insurance -$228
HOA -$38
Property Management Fees -$99
CASH FLOW
-$122

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$468,162

PROJECTED PRICE

$2,890

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,063

INVESTMENT

$126,063

Down Payment
$117,041
Rehab Estimate
$2,000
Closing Costs
$7,022

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,626

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,041
Loan Amount $351,122
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$11,413

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,890

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,888

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,890
$2,890
RENT COMPS ANALYSIS
  • 721 Salvia Court Midlothian, TX 2
    • 4 beds 4 baths ∙ 3,479 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,479 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,890
    • $0.83
    •  
  • 434 Garden Tree Trail Midlothian, TX 1
    • 4 beds 4 baths ∙ 3,134 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,134 Sqft ∙ Built 2016
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.83
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516625
Last Updated: 02/10/2021
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