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7641 University Drive Shreveport, LA 71105

4 Beds 2 Baths 2,082 sqft Built 1983

$237,500

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $114.07
  • 3 Days on Market
  • MLS # : 273951NL
  • Updated Date : 03/19/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,082 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Northwest

Listing Agent's Description

Beautiful home in FABULOUS location. Close to the Youree Drive corridor, restaurants, shopping and WK Pierremont Hospital. This house has it all. Extensive remodeling was done in 2016. Downstairs you are immediately impressed with how large the living space is for your family and friends to gather. Kitchen is a cook's dream with tons of cabinetry and stainless steel appliances. Home boasts a Formal dining room and a Breakfast room. Master Bedroom suite is downstairs. Large back yard with covered parking and extended patio. Prepare to save money on electricity with the solar system that was installed by Planet Solar in 2018.

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

Zip Code: 71105

ZipNIR Market*CityMarket2010Year2004 Q3201980k90k100k110k120k130k140k150k160k170k180k190kPrice in $73k198k

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

Zip Code: 71105

ZipNIR Market*CityMarket2015Year2009 Q32019 Q28509009501000105011001150120012501300135014001450Rent in $8481454

* 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
Claiborne Fundamental Elementary School Primary Magnet 401 26 10
Caddo Middle Magnet Middle Magnet 1,281 65 10
Caddo Parish Magnet High School High Magnet 1,122 69 9

Claiborne Fundamental Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 26
10
GreatSchools Rating

Caddo Middle Magnet

  • Education Level: Middle
  • # of students: 1,281
  • # of teachers: 65
10
GreatSchools Rating

Caddo Parish Magnet High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 69
9
GreatSchools Rating
 

$213,750$261,250$237,500

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 -$825
Property Tax -$304
Property Insurance -$66
Property Management Fees -$99
CASH FLOW
$376

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$237,500

PROJECTED PRICE

$1,670

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 1.39%
Appreciation Year (1-5) 1.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.82%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,688

INVESTMENT

$68,688

Down Payment
$59,375
Rehab Estimate
$5,750
Closing Costs
$3,563

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$825

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,375
Loan Amount $178,125
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$31,153

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
  • $0.8

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,6704$1,750
$1,750
RENT COMPS ANALYSIS
  • 7641 University Drive Shreveport, LA 3
    • 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,082 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.80
    •  
  • 429 Tulip Drive Shreveport, LA 1
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1980
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.81
    •  
  • 6137 Verona Lane Shreveport, LA 2
    • 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,860 Sqft ∙ Built 1974
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 601 Rock Hollow Drive Shreveport, LA 4
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 1978
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Debbie Hutches
Keller Williams Northwest
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 273951NL
Last Updated: 03/19/2021
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