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800 Springfield Drive Cedar Hill, TX 75104

3 Beds 2 Baths 1,372 sqft Built 1996

INVESTimate

$189,900

List Price

$1,390

$1,251 - $1,529

Rent Est.

$210,694  ( +10.95%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $138.41
  • 4 Days on Market
  • MLS # : 14418914
  • Updated Date : 08/25/2020 at 13:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,372 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! Best & Highest 12 on Tuesday. Looking for the perfect first time time home? This home opens up to the formal entry which invites you to come in and stay a while. The formal dining space opens to the kitchen and open living room. The home has been been updated with new floors throughout, new HVAC Unit, light fixtures, ceiling fans, etc. This home also has great storage space with walk in closets in each bedroom and is available for immediate move in. The spacious three bedroom, two bathroom well maintained home is on a large corner lot and features a large backyard space. This home will not last long!

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: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Springfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9261740

* 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
Plummer Elementary School Primary Regular 521 28 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Plummer Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 28
5
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$701
Property Tax -$432
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
$52

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.

$189,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.95%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,926

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,389

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,3953$1,4504$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 800 Springfield Drive Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.01
    •  
  • 913 Turner Court Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1986
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 910 Richards Drive Cedar Hill, TX 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 493 Weaver Street Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1985
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
  • 1204 Harvell Drive Cedar Hill, TX 5
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1986
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
PROPERTY LISTING DETAILS
Clifton Johnson
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418914
Last Updated: 08/25/2020
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