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9118 Prado Lane Dallas, TX 75220

3 Beds 3 Baths 2,657 sqft Built 2020

$635,000

List Price

$4,050

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $238.99
  • 5 Days on Market
  • MLS # : 14467923
  • Updated Date : 11/11/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,657 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Inspired by a Dutch design and Clinton & Co Architects, these homes are a refreshing retreat with a clean, modern design. Created by Centre Living Homes, these properties feature vaulted ceilings, quartz countertops, high end finishes, luxurious baths and great outdoor patio space all within a gated community. Multiple floor plans to choose from. The spacious kitchen and open floor plan allow for the perfect entertaining opportunities. Step into these homes and you will step into a whole new lifestyle. Take a short walk to the brand new Central Market for shopping or relax in the acre of private park. They always say location is key, and living here is sure to confirm the theory. Over 70% SOLD!

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: Northwest Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $88k457k

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

Neighborhood: Northwest Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9452570

* 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
K. B. Polk Center For Academically Talented And Gifted School Primary Magnet 545 36 6
Edward H. Cary Middle School Middle Regular 587 39 3
Thomas Jefferson High School High Regular 1,719 100 3

K. B. Polk Center For Academically Talented And Gifted School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 36
6
GreatSchools Rating

Edward H. Cary Middle School

  • Education Level: Middle
  • # of students: 587
  • # of teachers: 39
3
GreatSchools Rating

Thomas Jefferson High School

  • Education Level: High
  • # of students: 1,719
  • # of teachers: 100
3
GreatSchools Rating
 

$571,500$698,500$635,000

PURCHASE PRICE

$3,645$4,455$4,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,050
EXPENSES Loan Payment -$2,343
Property Tax -$1,506
Property Insurance -$181
HOA -$275
Property Management Fees -$99
CASH FLOW
-$353

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$635,000

PROJECTED PRICE

$4,050

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,275

INVESTMENT

$170,275

Down Payment
$158,750
Rehab Estimate
$2,000
Closing Costs
$9,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,343

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $158,750
Loan Amount $476,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$6,912

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,050

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $4,101

    COMP ESTIMATED VALUE
  • $1.54

    COMP AVG. RENT PER SQFT
Comps Range
$4,000
1$4,0002$4,0003$4,0504$4,850
$4,850
RENT COMPS ANALYSIS
  • 9118 Prado Lane Dallas, TX 3
    • 3 beds 3 baths ∙ 2,657 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,657 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $4,050
    • $1.52
    •  
  • 6714 Prosper Street Dallas, TX 1
    • 4 beds 4 baths ∙ 2,897 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,897 Sqft ∙ Built 2018
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.38
    •  
  • 4618 Newmore Avenue Dallas, TX 2
    • 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2019
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.58
    •  
  • 3344 Walchard Court Dallas, TX 4
    • 3 beds 4 baths ∙ 2,899 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,899 Sqft ∙ Built 2018
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,850
    • $1.67
    •  
PROPERTY LISTING DETAILS
Callie Brickman
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467923
Last Updated: 11/11/2020
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