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902 Nettleton Court Southlake, TX 76092

4 Beds 3 Baths 3,248 sqft Built 1995

$699,880

List Price

$4,230

$4K - $4.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $215.48
  • 4 Days on Market
  • MLS # : 14514506
  • Updated Date : 02/27/2021 at 16:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,248 sqft
  • Baths : 3 full
Listing Agent

Dfw Elite Realty

Listing Agent's Description

PERFECT TIMARRON COUNTRY CLUB AND GOLF COURSE 4 BEDROOM HOME ,IDEALLY LOCATED ON QUIET CUL DE SAC LOT! WELL CARED FOR AND FEATURING A CUSTOM FLOOR PLAN WITH MASTER SUITE, STUDY AND 2 ADDITIONAL BEDROOMS DOWN, PLUS GAME ROOM AND 4TH BEDROOM WITH BATH UP! GREAT CURB APPEAL AND HUGE, PRIVATE BACKYARD WITH LARGE PATIO! LARGE, OPEN KITCHEN DESIGN WITH CENTER OSLAND AND OVERSIZED BREAKFAST AREA, ALL WITH LARGE WINDOWS AND GREAT BACKYARD VIEWS! THIS IS THE TIMARRON HOME YOU'VE BEEN WAITING FOR! HURRY AND MAKE YOUR SOUTHLAKE DREAMS COME TRUE!

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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: 76092

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600k650k700kPrice in $123k722k

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

Zip Code: 76092

ZipNIR Market*CityMarket2010Year20002019 Q2150020002500300035004000Rent in $11264415

* 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
Rockenbaugh Elementary School Primary Regular 554 42 10
Dawson Middle School Middle Regular 646 40 10
Carroll Senior High School High Regular 1,284 76 10

Rockenbaugh Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 42
10
GreatSchools Rating

Dawson Middle School

  • Education Level: Middle
  • # of students: 646
  • # of teachers: 40
10
GreatSchools Rating

Carroll Senior High School

  • Education Level: High
  • # of students: 1,284
  • # of teachers: 76
10
GreatSchools Rating
 

$629,892$769,868$699,880

PURCHASE PRICE

$3,807$4,653$4,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,230
EXPENSES Loan Payment -$2,431
Property Tax -$1,412
Property Insurance -$215
HOA -$92
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.

$699,880

PROJECTED PRICE

$4,230

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$10k-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$191,218

INVESTMENT

$191,218

Down Payment
$174,970
Rehab Estimate
$5,750
Closing Costs
$10,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,970
Loan Amount $524,910
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$28,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,230

    LIST RENT
  • $1.3

    LIST RENT PER SQFT
  • $4,239

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,1003$4,2304$4,4005$4,400
$4,400
RENT COMPS ANALYSIS
  • 902 Nettleton Court Southlake, TX 3
    • 4 beds 3 baths ∙ 3,248 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,248 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $4,230
    • $1.30
    •  
  • 917 Midland Creek Drive Southlake, TX 1
    • 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,196 Sqft ∙ Built 1994
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.25
    •  
  • 901 Nettleton Court Southlake, TX 2
    • 4 beds 4 baths ∙ 3,168 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,168 Sqft ∙ Built 1994
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,100
    • $1.29
    •  
  • 802 Saxon Trail Southlake, TX 4
    • 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 1997
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.30
    •  
  • 300 Glenrose Court Southlake, TX 5
    • 4 beds 4 baths ∙ 3,200 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,200 Sqft ∙ Built 1993
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,400
    • $1.38
    •  
PROPERTY LISTING DETAILS
Thomas Michael
Dfw Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514506
Last Updated: 02/27/2021
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