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815 Timber Ridge Drive Cedar Hill, TX 75104

3 Beds 3 Baths 2,972 sqft Built 1989

$375,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $126.18
  • 4 Days on Market
  • MLS # : 14473012
  • Updated Date : 11/21/2020 at 11:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,972 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

MULTIPLE OFFERS RECEIVED BEST AND FINAL DUE SATURDAY AT 5PM Backyard Paradise! This beautiful home sits on over a third of an acre - PRIVACY! The kitchen features stainless appliances, wood beams, updated lighting and a gas cooktop. The two living areas and dining room feature beautiful wood flooring. The first-floor owner's suite has a see-through gas fireplace into the en-suite bath for those cool evenings! Upstairs are the other bedrooms, a sitting area and an office space. Pool resurfaced in 2020. Rear entry garage. Close to Joe Pool Lake. Hurry, this one will go fast! Showings will start Friday 11-20.

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: Wildwood at Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k367k

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

Neighborhood: Wildwood at Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10123086

* 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
Lake Ridge Elementary School Primary Regular 397 23 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 23
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,384
Property Tax -$853
Property Insurance -$199
HOA -$23
Property Management Fees -$99
CASH FLOW
$43

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.

$375,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.3%
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$15k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$22,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,556

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6003$2,995
$2,995
RENT COMPS ANALYSIS
  • 815 Timber Ridge Drive Cedar Hill, TX 2
    • 3 beds 3 baths ∙ 2,972 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,972 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 1024 Heath Circle Cedar Hill, TX 1
    • 4 beds 3 baths ∙ 3,131 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,131 Sqft ∙ Built 1994
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
  • 2234 Southern Oaks Drive Cedar Hill, TX 3
    • 4 beds 4 baths ∙ 3,250 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,250 Sqft ∙ Built 2001
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
Nancy Granby
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473012
Last Updated: 11/21/2020
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