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913 Kings Court Burleson, TX 76028

5 Beds 4 Baths 2,880 sqft Built 2018

$484,500

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $168.23
  • 3 Days on Market
  • MLS # : 14470848
  • Updated Date : 11/13/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,880 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Stunning, custom built, single story Cuoto home in the highly sought after Castle Hill Estates. Open concept living with stacked-stone fireplace, custom cabinetry, oversized island, luxury appliances & breakfast nook. Enjoy the natural sunlight through your double paned windows. Detailed craftsmanship includes hand-craped hardwood floors, beautiful coffered ceiling, unique lighting ceiling fans & niche inserts. A total of 5 bedrooms while one is currently used as a media room. Master suite includes a large bedroom with sitting area, huge walk in closet, rain shower & custom touches. Entertain out back in the covered patio area w TV, kitchen & bar. Plenty of room for a custom pool. Huge storage above 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

Neighborhood: Castle Hill Estates South

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k333k

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

Neighborhood: Castle Hill Estates South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262181

* 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
Mound Elementary School Primary Regular 424 29 6
Hughes Middle School Middle Regular 1,200 71 5
Burleson High School High Regular 1,583 101 7

Mound Elementary School

  • Education Level: Primary
  • # of students: 424
  • # of teachers: 29
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
 

$436,050$532,950$484,500

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,788
Property Tax -$1,211
Property Insurance -$194
Property Management Fees -$99
CASH FLOW
-$1,001

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.

$484,500

PROJECTED PRICE

$2,290

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,143

INVESTMENT

$134,143

Down Payment
$121,125
Rehab Estimate
$5,750
Closing Costs
$7,268

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,788

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,125
Loan Amount $363,375
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$56

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,124

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$2,1254$2,2005$2,290
$2,290
RENT COMPS ANALYSIS
  • 913 Kings Court Burleson, TX 5
    • 5 beds 4 baths ∙ 2,880 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,880 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.80
    •  
  • 324 Snapdragon Court Burleson, TX 1
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2004
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.70
    •  
  • 828 Pebblecreek Drive Burleson, TX 2
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2006
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
  • 336 Daisy Lane Burleson, TX 3
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 2004
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.75
    •  
  • 1401 Blue Quail Run Crowley, TX 4
    • 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2002
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jeff Johnson
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 #: 14470848
Last Updated: 11/13/2020
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