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838 Nichols Drive Lancaster, TX 75146

3 Beds 2 Baths 1,882 sqft Built 2019

$245,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $130.18
  • 5 Days on Market
  • MLS # : 14504466
  • Updated Date : 01/30/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,882 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Rare 2019 build with NO HOA! Immaculately kept home barely lived in. Entertain your guests in the perfect open concept floor plan where you can cook in your kitchen and enjoy your guests all at the same time! Enjoy BBQs underneath the shade of your covered cement patio while the kids run off some energy in the flat spacious back yard. Vaulted ceilings and arched hallways throughout give your home luxury custom home vibes with large walk in closets in all bedrooms! Split bedroom floor plan gives you privacy in your huge master suite while kids or guests enjoy their own part of the house. Bonus office or formal dining area for those of you that need a little extra space. To die for location close to dining and hw

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

Zip Code: 75146

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75146

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9211734

* 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
Rosa Parks-millbrook Elementary Primary Regular 559 31 6
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Rosa Parks-millbrook Elementary

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 31
6
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$851
Property Tax -$624
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$19

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.

$245,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,803

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7003$1,7754$1,7955$1,820
$1,820
RENT COMPS ANALYSIS
  • 838 Nichols Drive Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.90
    •  
  • 1821 Cross Oaks Drive Lancaster, TX 2
    • 4 beds 3 baths ∙ 1,731 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,731 Sqft ∙ Built 2020
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
  • 601 Canyon Cactus Street Lancaster, TX 3
    • 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,039 Sqft ∙ Built 2020
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.87
    •  
  • 1945 Cross Oaks Drive Lancaster, TX 4
    • 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,940 Sqft ∙ Built 2013
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 1923 Mosley Drive Lancaster, TX 5
    • 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,938 Sqft ∙ Built 2016
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.94
    •  
PROPERTY LISTING DETAILS
Gabrielle Wolff
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 #: 14504466
Last Updated: 01/30/2021
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