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774 Austin Lane Lavon, TX 75166

4 Beds 2 Baths 1,685 sqft Built 2014

$240,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $142.43
  • 5 Days on Market
  • MLS # : 14479149
  • Updated Date : 12/02/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,685 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Super cute home in Grand Heritage located across the street from the resort style pool and amenity center This is a great DR Horton floor plan with 4 bedrooms plus a study. Spacious kitchen with lots of counter space,overlooks the breakfast nook and family room. Tile floors in hallways,kitchen and baths,wood like vinyl throughout the rest of the home.Oversized laundry room with room for a freezer.Covered back patio,storage building and board on board wood fence.The garage has a separate HVAC unit giving lots of options for work or play.Located in growing Lavon,close to Lake Lavon and Lake Ray Hubbard with options for fishing,boating and other outdoor activities. Easy access to Hwy 78,1-90 and I30.Community ISD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$886
Property Tax -$461
Property Insurance -$125
HOA -$67
Property Management Fees -$99
CASH FLOW
-$86

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.

$240,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 774 Austin Lane Lavon, TX 1
    • 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,685 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 590 Arthur Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 675 Austin Lane Lavon, TX 3
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 2007
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 808 Austin Lane Lavon, TX 4
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2014
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
  • 779 Fannin Drive Lavon, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Brigitte Barkley
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 #: 14479149
Last Updated: 12/02/2020
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