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741 Indian Blanket Drive Midlothian, TX 76065

4 Beds 3 Baths 2,333 sqft Built 2021

$379,394

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2021
  • Price/Sqft : $162.62
  • 4 Days on Market
  • MLS # : 14466356
  • Updated Date : 11/06/2020 at 10:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,333 sqft
  • Baths : 3 full
Listing Agent

Classic Property Management

Listing Agent's Description

New Two-Story Built by Bloomfield Homes Ready January 2021! 4 Bed, 3 Bath and 2-Car Garage. Open Floorplan. Brick Exterior with Spacious Covered Front Porch. 8' Mahogany Front Door. Level 5 Wood-look Tile in Entry, Ext. Entry, Formal Dining, Hallways, Utility, Bath 2, Family Room, and Kitchen & Bfst Nook. Dining Room with Divided Glass Doors; could also be utilized as a Study. Tile Fireplace with Painted Mantel in Family Room. Windows in every room and tall ceilings allow for plenty of natural light. Game Room upstairs open to Kitchen & Family Room below. Tech Center at Game Room. Laundry Room. Cedar Garage Doors, Fully Fenced, Fully Landscaped, Full Sprinkler System. Covered Back Patio. Call 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
 

$341,455$417,333$379,394

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,400
Property Tax -$828
Property Insurance -$162
HOA -$38
Property Management Fees -$99
CASH FLOW
-$326

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.

$379,394

PROJECTED PRICE

$2,200

PROJECTED RENT

0.58%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,539

INVESTMENT

$102,539

Down Payment
$94,849
Rehab Estimate
$2,000
Closing Costs
$5,691

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,400

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,849
Loan Amount $284,546
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,176

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,1953$2,2004$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 741 Indian Blanket Drive Midlothian, TX 3
    • 4 beds 3 baths ∙ 2,333 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,333 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 3613 Worthington Drive Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,258 Sqft ∙ Built 2017
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.96
    •  
  • 3401 Newgate Street Midlothian, TX 2
    • 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2003
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.92
    •  
  • 3605 Regent Street Midlothian, TX 4
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2010
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 1106 Pheasant Drive Midlothian, TX 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2002
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.88
    •  
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 #: 14466356
Last Updated: 11/06/2020
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