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8644 Thorbrush Place Dallas, TX 75238

3 Beds 3 Baths 2,741 sqft Built 2016

$595,000

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $217.07
  • 3 Days on Market
  • MLS # : 14532051
  • Updated Date : 03/13/2021 at 11:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,741 sqft
  • Baths : 2 full , 1 half
Listing Agent

Creekview Realty

Listing Agent's Description

This home looks brand new with every detail considered! From the garage with an epoxy floor & Elfa system, play-bedroom with a wall of bookshelves to hardwoods throughout. Gated community with HOA & community pool. First level floorplan has a flow built for entertaining & the private office is perfect for working from home. Gourmet kitchen with double oven, 6 burner gas cooktop and massive island - a chefs dream. Master suite with large walk-in closet, glass shower and soaking tub. Smart home features throughout & the deck-pergola with custom lighting, a sound system and professional landscaping complete the picture. Plantation shutters, Sonos system, cameras & more. $60,000+ in after-market upgrades. Must see!

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: Lakeside Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $102k361k

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

Neighborhood: Lakeside Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9472160

* 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
Lake Highlands Junior High School Middle Regular 817 51 6
Lake Highlands High School High Regular 1,707 112 5
Lake Highlands Junior High School Middle Unknown NA

Lake Highlands Junior High School

  • Education Level: Middle
  • # of students: 817
  • # of teachers: 51
6
GreatSchools Rating

Lake Highlands High School

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

Lake Highlands Junior High School

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

$535,500$654,500$595,000

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$2,067
Property Tax -$1,411
Property Insurance -$186
HOA -$121
Property Management Fees -$99
CASH FLOW
-$923

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.

$595,000

PROJECTED PRICE

$2,960

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,067

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$8

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,969

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9503$2,9604$3,275
$3,275
RENT COMPS ANALYSIS
  • 8644 Thorbrush Place Dallas, TX 3
    • 3 beds 3 baths ∙ 2,741 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,741 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $1.08
    •  
  • 8624 Fanellanwood Place Dallas, TX 1
    • 3 beds 4 baths ∙ 2,580 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,580 Sqft ∙ Built 2015
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.12
    •  
  • 8677 Ballifeary Place Dallas, TX 2
    • 3 beds 3 baths ∙ 2,839 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,839 Sqft ∙ Built 2015
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.04
    •  
  • 10553 Plumwood Parkway Dallas, TX 4
    • 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 2015
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,275
    • $1.09
    •  
PROPERTY LISTING DETAILS
John Prell
Creekview Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532051
Last Updated: 03/13/2021
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