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8016 Loma Lane Godley, TX 76044

4 Beds 3 Baths 2,313 sqft Built 2018

$379,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $163.86
  • 3 Days on Market
  • MLS # : 14541129
  • Updated Date : 03/26/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,313 sqft
  • Baths : 3 full
Listing Agent

Listing Results, Llc

Listing Agent's Description

Four bedroom, three bath home located in a small subdivision just outside Godley city limits. Open concept living, kitchen and dining areas. Large kitchen with island, granite countertops, stainless steel appliances and walk-in pantry. Oversized laundry room with ample shelving, linen cabinet and folding table. Private water well with multi-step whole home water filter and water softener. No water bill! Under kitchen sink reverse osmosis water filter with separate faucet. Fully fenced backyard has separate fenced garden area with custom raised garden beds. Nine zone irrigation system with wireless Rachio controller. Home also has dual water heaters.

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: 76044

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $108k243k

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

Zip Code: 76044

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9821734

* 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
Godley Elementary School Primary Regular 627 42 3
Godley Middle School Middle Regular 282 22 5
Godley High School High Regular 526 42 4

Godley Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 42
3
GreatSchools Rating

Godley Middle School

  • Education Level: Middle
  • # of students: 282
  • # of teachers: 22
5
GreatSchools Rating

Godley High School

  • Education Level: High
  • # of students: 526
  • # of teachers: 42
4
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,316
Property Tax -$832
Property Insurance -$161
HOA -$10
Property Management Fees -$99
CASH FLOW
-$538

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$379,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$18

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,313

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$2,350
$2,350
RENT COMPS ANALYSIS
  • 8016 Loma Lane Godley, TX 1
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.81
    •  
  • 9313 Alabama Street Joshua, TX 2
    • 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2007
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jack Mclemore
Listing Results, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541129
Last Updated: 03/26/2021
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