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8318 Lullwater Drive Dallas, TX 75218

4 Beds 4 Baths 2,752 sqft Built 1967 2 Units

$499,900

List Price

$3,000

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

2 Units MULTIFAMILY
YES TENANTED
March 24, 2021 RECENTLY ADDED
FACTS
  • Multi Family Home
  • Built In 1967
  • Price/Sqft : $181.65
  • 7 Days on Market
  • MLS # : 14537506
  • Updated Date : 03/24/2021 at 02:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,752 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

PRISTINE FULL DUPLEX METICULOUSLY MAINTAINED WITH UPDATES CLOSE TO WHITE ROCK LAKE!! THIS CHARMING BRICK DUPLEX HAS 2BEDROOMS,2BATH,2LIVING AREAS,DINING,FIREPLACE,LARGE KITCHEN,PERIOD BATHROOMS,LARGE BEDROOMS,WALK-IN CLOSETS. PRIVATE PATIOS,2CAR DETACHED GARAGE AND 2CAR COVERED CARPORT PARKING AREA WITH ELECTRIC GATE. BEAUTIFUL LANDSCAPING AND DRIVE-UP APPEAL!! GREAT INVESTMENT OPPORTUNITY. DO NOT MISS. A MUST SEE!! DO NOT DISTURB TENANTS. ALL SHOWINGS BY APPOINTMENT ONLY. NO SURVEY.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 75218

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $102k424k

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

Zip Code: 75218

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9472187

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,700$3,300$3,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,000
EXPENSES Loan Payment -$1,736
Property Tax -$912
Property Insurance -$175
Property Management Fees -$198
CASH FLOW
-$21

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.

$499,900

PROJECTED PRICE

$3,000

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,974

INVESTMENT

$143,974

Down Payment
$124,975
Rehab Estimate
$11,500
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,736

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$23,415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

Solutions Manager

YOUR SOLUTIONS MANAGER

Please Contact Your Solutions Manager

To review the detailed price and rent comps for this property and answer any questions you may have.

PROPERTY LISTING DETAILS
Lili Ornelas
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537506
Last Updated: 03/24/2021
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