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902 Saint George Place Desoto, TX 75115

4 Beds 7 Baths 4,024 sqft Built 2005

$470,000

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $116.80
  • 5 Days on Market
  • MLS # : 14483717
  • Updated Date : 12/23/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,024 sqft
  • Baths : 4 full , 3 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Don't miss the rare opportunity to own one of the largest homes in exclusive Saint George's Place. Completely renovated in 2020 with hardwoods throughout the main level, open concept gourmet kitchen, two primary suites - one on the main level, two additional ensuite bedrooms, separate media and family rooms upstairs plus a large covered balcony overlooking the greenbelt along Ten Mile Creek. Plenty of outdoor entertaining space with an oversized patio off of the main living area. Located directly across from Thorntree Golf Club, this gated community of fewer than 20 homes is ideally situated with nearby parks, a nature preserve, shopping, and convenient access to transportation. Hurry! This will not last long.

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: St. George's Place

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k372k

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

Neighborhood: St. George's Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10602805

* 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
Ruby Young Elementary School Primary Regular 617 34 3
Desoto West Middle School Middle Regular 709 49 3

Ruby Young Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 34
3
GreatSchools Rating

Desoto West Middle School

  • Education Level: Middle
  • # of students: 709
  • # of teachers: 49
3
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,734
Property Tax -$1,123
Property Insurance -$260
HOA -$67
Property Management Fees -$99
CASH FLOW
-$473

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.

$470,000

PROJECTED PRICE

$2,810

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $3,018

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,810
1$2,8102$3,0003$3,495
$3,495
RENT COMPS ANALYSIS
  • 902 Saint George Place Desoto, TX 1
    • 4 beds 7 baths ∙ 4,024 Sqft ∙ Built 2005 4 beds 7 baths ∙ 4,024 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $0.70
    •  
  • 1205 Primrose Court Desoto, TX 2
    • 5 beds 4 baths ∙ 4,319 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,319 Sqft ∙ Built 2005
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.69
    •  
  • 1428 Driftwood Cedar Hill, TX 3
    • 4 beds 5 baths ∙ 4,336 Sqft ∙ Built 2006 4 beds 5 baths ∙ 4,336 Sqft ∙ Built 2006
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $0.81
    •  
PROPERTY LISTING DETAILS
James Fairchild
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483717
Last Updated: 12/23/2020
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