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858 Mulberry Lewisville, TX 75067

3 Beds 2 Baths 1,383 sqft Built 1985

$274,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $198.77
  • 6 Days on Market
  • MLS # : 14502199
  • Updated Date : 01/19/2021 at 19:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,383 sqft
  • Baths : 2 full
Listing Agent

Andromeda's Real Estate

Listing Agent's Description

Nice Totally remodeled home within a nice neighborhood and a good looking pool for those hot summers

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Timberbrook

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k290k

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

Neighborhood: Timberbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10081939

* 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
Creekside Elementary School Primary Regular 495 35 5
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Regular NA

Creekside Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 35
5
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$955
Property Tax -$474
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$155

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.

$274,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$3,897

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,480

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5953$1,6004$1,6005$1,799
$1,799
RENT COMPS ANALYSIS
  • 858 Mulberry Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.07
    •  
  • 830 Meadowlark Lane Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.02
    •  
  • 738 Red Wing Drive Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 726 Red Oak Drive Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1985
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 830 Meadowlark Lewisville, TX 5
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1978
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $1.15
    •  
PROPERTY LISTING DETAILS
Jesse A Carcamo
Andromeda's Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502199
Last Updated: 01/19/2021
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