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8797 Timber Falls Drive Dallas, TX 75249

4 Beds 3 Baths 2,477 sqft Built 2010

$285,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $115.06
  • 4 Days on Market
  • MLS # : 14470320
  • Updated Date : 11/13/2020 at 09:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,477 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Preferred Associates

Listing Agent's Description

Wonderfully spacious, four bedroom home situated on quiet cul-de-sac in beautiful Summit Parc Community! This home is near schools, shopping, Joe Pool Lake, walking trails, community pool, playground and close to all major freeways & only minutes away from downtown Dallas! Amenities to include: great kitchen with custom cabinets and recessed lighting. Spacious Family Room with elegant cast stone gas fireplace. Master Bath has a deep garden tub and separate shower. There is so much more to mention, you should just come see for yourself.

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: Summit Parc

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Summit Parc

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451759

* 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
Hyman Elementary School Primary Regular 560 36 4
Daniel Intermediate School Middle Regular 658 39 3
Duncanville High School High Regular 3,923 238 3

Hyman Elementary School

  • Education Level: Primary
  • # of students: 560
  • # of teachers: 36
4
GreatSchools Rating

Daniel Intermediate School

  • Education Level: Middle
  • # of students: 658
  • # of teachers: 39
3
GreatSchools Rating

Duncanville High School

  • Education Level: High
  • # of students: 3,923
  • # of teachers: 238
3
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,052
Property Tax -$676
Property Insurance -$170
HOA -$28
Property Management Fees -$99
CASH FLOW
-$14

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.

$285,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.8%
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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$12,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,068

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9993$2,0104$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 8797 Timber Falls Drive Dallas, TX 3
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.81
    •  
  • 8487 Creekbluff Drive Dallas, TX 1
    • 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,290 Sqft ∙ Built 2008
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 7334 Big Sky Drive Dallas, TX 2
    • 4 beds 2 baths ∙ 2,402 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,402 Sqft ∙ Built 2006
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.83
    •  
  • 8420 Ridge Creek Drive Dallas, TX 4
    • 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,598 Sqft ∙ Built 2008
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.84
    •  
  • 7920 Glenway Drive Dallas, TX 5
    • 5 beds 4 baths ∙ 2,629 Sqft ∙ Built 2002 5 beds 4 baths ∙ 2,629 Sqft ∙ Built 2002
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
PROPERTY LISTING DETAILS
Nathan Tave
Re/max Preferred Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470320
Last Updated: 11/13/2020
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