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904 Forest Glen Drive Desoto, TX 75115

3 Beds 2 Baths 1,875 sqft Built 1983

$248,990

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $132.79
  • 1 Days on Market
  • MLS # : 14471721
  • Updated Date : 11/15/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,875 sqft
  • Baths : 2 full
Listing Agent

Door Texas Realty, Llc

Listing Agent's Description

30min Drive or less to Airport & Major Cities surrounding DFW. This Rare Solid Brick Home offers High Ceilings throughout, 9ft Deep Pool with Large Sunroom that could be Second Living. Freeing Backyard Cedar Loft Apartment w.Electric-Cable-Cooling-Heating-Private Porch looking over pool. Backyard includes extra grassy area for pets. NEW Roof-Gutters,Like NEW Wood-like Flooring, Large Sized Rooms, Newer Paneled White Doors,Fairly New HVAC System. Large Separate Dining room, Spacious Kitchen & Eat-in Kitchen. KITCHEN APPLIANCES, WASHER-DRYER, & Security Camera System INCLUDED. Private Back alley to share with ONLY two neighbors. Extra parking on Long Driveway in addition to the attached Large Two Car Garage.

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

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 75115

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451741

* 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
 

$224,091$273,889$248,990

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$919
Property Tax -$595
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$198

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.

$248,990

PROJECTED PRICE

$1,550

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,732

INVESTMENT

$71,732

Down Payment
$62,248
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,248
Loan Amount $186,743
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,542

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4253$1,4704$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 904 Forest Glen Drive Desoto, TX 5
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 301 Lakewood Drive Desoto, TX 1
    • 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 1965
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.79
    •  
  • 117 Charles Street Desoto, TX 2
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1973
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.81
    •  
  • 614 N Young Boulevard Desoto, TX 3
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1964
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.86
    •  
  • 308 Davis Drive Desoto, TX 4
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1965
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
PROPERTY LISTING DETAILS
Brittany Realzola
Door Texas Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471721
Last Updated: 11/15/2020
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