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805 Heather Lane Keller, TX 76248

4 Beds 3 Baths 3,212 sqft Built 1998

$410,000

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $127.65
  • 3 Days on Market
  • MLS # : 14471769
  • Updated Date : 11/21/2020 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,212 sqft
  • Baths : 2 full , 1 half
Listing Agent

Franklin Real Estate Brokerage

Listing Agent's Description

Open, gorgeous, quiet, relaxing neighborhood and a move in ready home! This classic home is conveniently located in the heart of Keller in the Lakes of Highland Oaks. The huge dine in kitchen boasts travertine tile, granite counters, updated gourmet gas cooktop-oven, new cabinets and fresh paint. It opens right into the living area as well as formal dining for a great flow. As you walk in the front door and into the beautiful entry, your office is secluded from the rest of the house for peace and quiet. The master suite is HUGE and has a 14x8 sitting area or office so two could work from home. Oversized bedrooms and a giant game room will help everyone find their own space to spread out and relax!

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

Neighborhood: The Lakes of Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: The Lakes of Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Shady Grove Elementary School Primary Regular 458 32 8
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Shady Grove Elementary School

  • Education Level: Primary
  • # of students: 458
  • # of teachers: 32
8
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,513
Property Tax -$860
Property Insurance -$192
HOA -$38
Property Management Fees -$99
CASH FLOW
-$62

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.

$410,000

PROJECTED PRICE

$2,640

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$17,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,797

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,640
1$2,6402$2,6503$2,7004$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 805 Heather Lane Keller, TX 1
    • 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $0.93
    •  
  • 910 Muirfield Road Keller, TX 2
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1999
    property image
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.00
    •  
  • 914 Rush Creek Road Keller, TX 3
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 1991
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
  • 732 Saint Andrews Lane Keller, TX 4
    • 5 beds 3 baths ∙ 3,047 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,047 Sqft ∙ Built 1997
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
  • 1924 Overlook Ridge Drive Keller, TX 5
    • 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 1996
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.98
    •  
PROPERTY LISTING DETAILS
Travis Franklin
Franklin Real Estate Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471769
Last Updated: 11/21/2020
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