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816 Linden Drive Burleson, TX 76028

4 Beds 2 Baths 2,382 sqft Built 2004

$265,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $111.25
  • 2 Days on Market
  • MLS # : 14470965
  • Updated Date : 11/14/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,382 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 4 Bedroom Home Features Open Floor Plan with Split Bedrooms. Living: Large with Wood Floors, Built-in Surround Sound Speakers and Stone-Brick Fire Place. Kitchen Open to Living and Dining, Very Spacious with Lots of Cabinets. Master: New Carpet Summer 2020, Large Walk In Closet, Large Master bath with Dual Sinks, Separate Shower and Garden Tub. Roof Replaced October 2020. New Garage Door Opener Summer 2020. HVAC Replaced within the Last 2 Years. Home Also Features Two Flex Areas that could be Extra Living, Study-Office, Formal Dining...Lots of Space in a One Story Home for You to Make Your Very Own. Seller Will Provide Home Warranty.

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: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261996

* 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
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$978
Property Tax -$662
Property Insurance -$165
HOA -$21
Property Management Fees -$99
CASH FLOW
-$75

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.

$265,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$7,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,822

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7453$1,8504$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 816 Linden Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 2,382 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,382 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 921 Redbud Road Burleson, TX 1
    • 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,339 Sqft ∙ Built 2005
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 706 Windridge Lane Burleson, TX 2
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1993
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.80
    •  
  • 324 Coral Vine Lane Burleson, TX 3
    • 3 beds 3 baths ∙ 2,567 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,567 Sqft ∙ Built 2013
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 700 Evergreen Court Burleson, TX 5
    • 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,496 Sqft ∙ Built 2007
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
PROPERTY LISTING DETAILS
Tamara Kilgore
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470965
Last Updated: 11/14/2020
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