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905 Chestnut Avenue Burleson, TX 76028

3 Beds 2 Baths 1,855 sqft Built 2004

INVESTimate

$229,900

List Price

$1,680

$1,512 - $1,848

Rent Est.

$242,315  ( +5.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $123.94
  • 7 Days on Market
  • MLS # : 14417397
  • Updated Date : 08/21/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,855 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Burleson

Listing Agent's Description

Fantastic 3 bedroom, 2 bath home in Mistletoe Hill. This home features a versatile floor plan that offers 2 separate living areas, fireplace and breakfast bar. Granite countertops throughout the kitchen, coffee bar, corner pantry and stainless steel appliances. Situated in one of Burleson's best communities, and all within walking distance to parks, community pool and plenty of restaurants and shopping just around the corner.

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: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: Mistletoe Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261996

* 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
Judy Hajek Elementary School Primary Regular 547 35 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Judy Hajek Elementary School

  • Education Level: Primary
  • # of students: 547
  • # of teachers: 35
6
GreatSchools Rating

Hughes Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 71
5
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$848
Property Tax -$575
Property Insurance -$134
HOA -$27
Property Management Fees -$99
CASH FLOW
-$3

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.

$229,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$10,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5403$1,6004$1,6805$1,750
$1,750
RENT COMPS ANALYSIS
  • 905 Chestnut Avenue Burleson, TX 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.91
    •  
  • 565 Keble Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 2002
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 12513 Viewpoint Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.86
    •  
  • 1004 Heberle Drive Burleson, TX 3
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2002
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 801 Heberle Drive Burleson, TX 5
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2000
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Chris Laghezza
Jp And Associates Burleson
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417397
Last Updated: 08/21/2020
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