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7984 Minglewood Lane Dallas, TX 75231

3 Beds 4 Baths 2,192 sqft Built 2016

$575,000

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $262.32
  • 3 Days on Market
  • MLS # : 14508181
  • Updated Date : 01/29/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,192 sqft
  • Baths : 3 full , 1 half
Listing Agent

Rogers Healy And Associates

Listing Agent's Description

Stunning 3 bed, 3.5 bath 2-story home located in upscale, gated community! Open concept living with modern design, hardwood floors, 20ft ceilings and elevated windows providing tons of natural light! Gourmet kitchen showcases quartz countertops, S-S appliances, gas stove, kitchen island and large walk-in pantry. Downstairs bedroom with ensuite bath. Upstairs loft + flex space with built-in desk & floating shelving. Primary bedroom suite features private balcony with views! Ensuite bath offers dual vanities, walk-in shower, and large walk-in closet! Secondary bedroom upstairs with spacious walk-in closet. Private backyard opens to covered patio and turfed yard. Steps to resort style pool and private cabanas!

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: Vickery

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $48k243k

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

Neighborhood: Vickery

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9452214

* 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
Lee A. Mcshan Jr. Elementary School Primary Regular 704 41 5
Sam Tasby Middle School Middle Regular 837 55 2
Emmett J. Conrad High School High Regular 1,121 87 3

Lee A. Mcshan Jr. Elementary School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 41
5
GreatSchools Rating

Sam Tasby Middle School

  • Education Level: Middle
  • # of students: 837
  • # of teachers: 55
2
GreatSchools Rating

Emmett J. Conrad High School

  • Education Level: High
  • # of students: 1,121
  • # of teachers: 87
3
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$1,997
Property Tax -$1,363
Property Insurance -$154
HOA -$133
Property Management Fees -$99
CASH FLOW
-$477

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.

$575,000

PROJECTED PRICE

$3,270

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $1.49

    LIST RENT PER SQFT
  • $3,222

    COMP ESTIMATED VALUE
  • $1.47

    COMP AVG. RENT PER SQFT
Comps Range
$3,270
1$3,2702$3,5003$3,650
$3,650
RENT COMPS ANALYSIS
  • 7984 Minglewood Lane Dallas, TX 1
    • 3 beds 4 baths ∙ 2,192 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,192 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.49
    •  
  • 7854 Verona Place Dallas, TX 2
    • 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,357 Sqft ∙ Built 2017
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.48
    •  
  • 7827 Verona Place Dallas, TX 3
    • 3 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,507 Sqft ∙ Built 2018
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $1.46
    •  
PROPERTY LISTING DETAILS
Kelsey Faires
Rogers Healy And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508181
Last Updated: 01/29/2021
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