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8616 Breakers Point Dallas, TX 75243

3 Beds 4 Baths 3,037 sqft Built 1992

$615,000

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $202.50
  • 4 Days on Market
  • MLS # : 14506951
  • Updated Date : 01/28/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,037 sqft
  • Baths : 3 full , 1 half
Listing Agent

Local Resident Realty

Listing Agent's Description

Gorgeous drive up with mature trees that canopy this 3 bedroom, 3.5 bath home situated in a quiet subdivision. Pristine, solid oak hardwoods greet you as you enter the meticulously maintained home, with soaring ceilings, floor to ceiling built in bookshelves, rolling ladder in a versatile room that can be a library, study or formal den. Kitchen has been completely updated with stainless steel appliances, double ovens, electric cooktop, ample storage & is open to breakfast & living areas which makes perfect for entertaining. The primary suite is upstairs, has large sitting area & spa like bath with two huge walk in closets. Just minutes to hike & bike trails, easy access to major highways, this and so much more.

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

Neighborhood: Northwood Estate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $102k268k

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

Neighborhood: Northwood Estate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9471992

* 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
Forest Meadow Junior High School Middle Regular 795 52 4
Lake Highlands High School High Regular 1,707 112 5
Forest Meadow Junior High School Middle Unknown NA

Forest Meadow Junior High School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 52
4
GreatSchools Rating

Lake Highlands High School

  • Education Level: High
  • # of students: 1,707
  • # of teachers: 112
5
GreatSchools Rating

Forest Meadow Junior High School

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

$553,500$676,500$615,000

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$2,136
Property Tax -$1,458
Property Insurance -$203
HOA -$84
Property Management Fees -$99
CASH FLOW
-$860

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.

$615,000

PROJECTED PRICE

$3,120

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.2%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,725

INVESTMENT

$168,725

Down Payment
$153,750
Rehab Estimate
$5,750
Closing Costs
$9,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $153,750
Loan Amount $461,250
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$18

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $3,401

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$3,120
1$3,1202$3,4003$3,5004$3,500
$3,500
RENT COMPS ANALYSIS
  • 8616 Breakers Point Dallas, TX 1
    • 3 beds 4 baths ∙ 3,037 Sqft ∙ Built 1992 3 beds 4 baths ∙ 3,037 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $1.03
    •  
  • 9114 Glen Springs Drive Dallas, TX 2
    • 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1974 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1974
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.13
    •  
  • 10364 White Rock Circle Dallas, TX 3
    • 4 beds 4 baths ∙ 3,281 Sqft ∙ Built 1975 4 beds 4 baths ∙ 3,281 Sqft ∙ Built 1975
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.07
    •  
  • 8919 Vista Gate Drive Dallas, TX 4
    • 4 beds 3 baths ∙ 3,010 Sqft ∙ Built 1974 4 beds 3 baths ∙ 3,010 Sqft ∙ Built 1974
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Glen Christy
Local Resident Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506951
Last Updated: 01/28/2021
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