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818 Fannin Drive Lavon, TX 75166

3 Beds 2 Baths 1,514 sqft Built 2014

$255,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $168.43
  • 3 Days on Market
  • MLS # : 14500137
  • Updated Date : 01/15/2021 at 13:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,514 sqft
  • Baths : 2 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Absolutely beautiful and well-maintained Bloomfield home in Grand Heritage Club. Eat-in kitchen with center island, stainless appliances, tumbled backsplash, walk-in pantry and granite countertops; breakfast area with window seat; both open to spacious family room. Engineered hardwoods in kitchen, breakfast, family room and hallways. Split bedrooms give the master a quiet retreat with master bath having separate garden tub, shower and large walk-in closet. Separate utility room. 5.5 inch baseboards. Beautiful hardware and fixtures throughout. You'll find a second living area outside with a beautiful pergola with lighting and ceiling fans and an extended patio. You won't want to miss this one. It's a '10'!!

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75166

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Phyliss Nesmith Elementary School Primary Regular 469 26 7
Edge Middle School Middle Regular 441 26 4
Community High School High Regular 507 39 6

Phyliss Nesmith Elementary School

  • Education Level: Primary
  • # of students: 469
  • # of teachers: 26
7
GreatSchools Rating

Edge Middle School

  • Education Level: Middle
  • # of students: 441
  • # of teachers: 26
4
GreatSchools Rating

Community High School

  • Education Level: High
  • # of students: 507
  • # of teachers: 39
6
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$886
Property Tax -$489
Property Insurance -$115
HOA -$67
Property Management Fees -$99
CASH FLOW
-$106

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.

$255,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,556

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6504$1,6755$1,750
$1,750
RENT COMPS ANALYSIS
  • 818 Fannin Drive Lavon, TX 1
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 590 Arthur Drive Lavon, TX 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 471 Harding Lane Lavon, TX 3
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2014
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 520 Harding Lane Lavon, TX 4
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 2009
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.08
    •  
  • 779 Fannin Drive Lavon, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2009
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Cindy Vincent
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500137
Last Updated: 01/15/2021
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