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912 Tiffany Lane Mesquite, TX 75149

4 Beds 3 Baths 2,873 sqft Built 1985

INVESTimate

$265,000

List Price

$1,830

$1,647 - $2,013

Rent Est.

$297,834  ( +12.39%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $92.24
  • 1 Days on Market
  • MLS # : 14417029
  • Updated Date : 08/26/2020 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,873 sqft
  • Baths : 3 full
Listing Agent

Kile Properties

Listing Agent's Description

Rare opportunity to own a home in this beautiful, quiet Lake Park neighborhood! CUSTOM 4 bedroom, 3 bath, 2 car garage with 2 living areas! This home has unparalleled character and is priced to sell! Sunken family room with wet bar and fireplace. Multiple built ins through out. Generously sized bedrooms with walk in closets. Large utility room. Beautifully landscaped, front yard with mature trees and backyard with gunite pool ready for entertaining, privacy fence! Owner has updated carpet and some flooring. New 7 ton AC unit. New ceiling fans, insulated garage door and solar screens. Driveway and sidewalks have been raised and leveled. With a little updating this could be your dream home! Photos coming soon!

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: Lake Park North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Lake Park North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451774

* 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
Moss Elementary School Primary Regular 504 33 5
Agnew Middle School Middle Regular 745 49 5
Mesquite High School High Regular 2,851 168 4

Moss Elementary School

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 33
5
GreatSchools Rating

Agnew Middle School

  • Education Level: Middle
  • # of students: 745
  • # of teachers: 49
5
GreatSchools Rating

Mesquite High School

  • Education Level: High
  • # of students: 2,851
  • # of teachers: 168
4
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$978
Property Tax -$643
Property Insurance -$193
Property Management Fees -$99
CASH FLOW
-$83

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.

$265,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.39%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8303$1,9004$2,000
$2,000
RENT COMPS ANALYSIS
  • 912 Tiffany Lane Mesquite, TX 2
    • 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.64
    •  
  • 2205 Valley Falls Avenue Mesquite, TX 1
    • 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,734 Sqft ∙ Built 1997
    LEASED 03/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.62
    •  
  • 2210 Elm Falls Place Mesquite, TX 3
    • 5 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.65
    •  
  • 1912 Potter Lane Mesquite, TX 4
    • 4 beds 2 baths ∙ 3,020 Sqft ∙ Built 1982 4 beds 2 baths ∙ 3,020 Sqft ∙ Built 1982
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.66
    •  
PROPERTY LISTING DETAILS
Jennifer Casper
Kile Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417029
Last Updated: 08/26/2020
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