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816 Cedarwood Drive Cedar Hill, TX 75104

4 Beds 3 Baths 2,248 sqft Built 1996

$235,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $104.54
  • 6 Days on Market
  • MLS # : 14484139
  • Updated Date : 12/16/2020 at 20:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,248 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

***Multiple Offers. Showings will continue until Sunday 12.20 12pm. Submit Highest and Best by 3pm 12.20.2020*** Come put your own touch on this unique floor plan!! This 3 bedroom and 3 full bath home is a true diamond in the rough looking for new owners. Featuring crown molding, vaulted ceilings, 2 large living spaces, a private courtyard off the Master bedroom, and a deck in the backyard to enjoy any family gatherings. 1 living room was converted into a bedroom, half of the garage has been converted into storage space and both can easily be changed back - garage door is still functional. Motivated Seller...bring all offers. ALL OFFERS TO VANESSA.PARKER@HEYLREALESTATE.COM

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Cedarwood Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Cedarwood Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451880

* 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
Waterford Oaks Elementary School Primary Regular 538 29 4
Bessie Coleman Middle School Middle Regular 588 35 4
Cedar Hill High School High Regular 1,731 105 2

Waterford Oaks Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 29
4
GreatSchools Rating

Bessie Coleman Middle School

  • Education Level: Middle
  • # of students: 588
  • # of teachers: 35
4
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$867
Property Tax -$535
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
$272

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.

$235,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$38,419

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,9304$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 816 Cedarwood Drive Cedar Hill, TX 3
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.86
    •  
  • 828 Meandering Drive Cedar Hill, TX 1
    • 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,028 Sqft ∙ Built 2000
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 1080 Magnolia Lane Cedar Hill, TX 2
    • 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,166 Sqft ∙ Built 2001
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
  • 809 Lowe Drive Cedar Hill, TX 4
    • 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,306 Sqft ∙ Built 1994
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 1023 Essex Drive Cedar Hill, TX 5
    • 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,431 Sqft ∙ Built 1994
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Vanessa Brown
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484139
Last Updated: 12/16/2020
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