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818 Green Acres Lane Midlothian, TX 76065

3 Beds 2 Baths 1,660 sqft Built 2006

$252,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $152.35
  • 2 Days on Market
  • MLS # : 14497111
  • Updated Date : 01/09/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

MOVE-IN READY 3 BEDROOM, 2 FULL BATHROOM HOME ON A HUGE ALMOST QUARTER ACRE CORNER LOT! Ideal open concept floor plan with new carpet and paint throughout. The living room is open to the kitchen and offers wood type flooring and nice windows that let the natural light flow into the home. You will love the new oven, range, and dishwasher in the kitchen along with great cabinetry, lots of counter space, and also open to the breakfast nook. Get ready for some outdoor grilling on this back patio deck with a pergola and enjoy the back yard with your friends and family. Minutes to shopping, dining, and Hwy 67. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: Green Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k275k

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

Neighborhood: Green Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9402063

* 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
J.r. Irvin Elementary School Primary Regular 365 25 7
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.r. Irvin Elementary School

  • Education Level: Primary
  • # of students: 365
  • # of teachers: 25
7
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$227,610$278,190$252,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$878
Property Tax -$552
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$68

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.

$252,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.6%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$72,769

INVESTMENT

$72,769

Down Payment
$63,225
Rehab Estimate
$5,750
Closing Costs
$3,794

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$878

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,225
Loan Amount $189,675
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,7003$1,7004$1,7205$1,795
$1,795
RENT COMPS ANALYSIS
  • 818 Green Acres Lane Midlothian, TX 4
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $1.04
    •  
  • 1206 Misty Meadow Drive Midlothian, TX 1
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2000
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 1321 Yukon Midlothian, TX 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2005
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 1222 Misty Drive Midlothian, TX 3
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2001
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.06
    •  
  • 1309 Mallard Run Midlothian, TX 5
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2002
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497111
Last Updated: 01/09/2021
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