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928 Winchester Lane Mesquite, TX 75181

3 Beds 2 Baths 1,426 sqft Built 1991

$205,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $143.76
  • 2 Days on Market
  • MLS # : 14514405
  • Updated Date : 02/06/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,426 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

Cute 3 bedroom 2 bath house great location close to shopping, restaurants and major highways. Beautiful curb appeal with back alley parking. New roof, refresh paint throughout the house, new granite in the kitchen, high ceilings with an open concept. Don't miss this opportunity. Ready for you and your family to move in. Hurry up before it is gone.

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: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Creek Crossing Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701740

* 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
Smith Elementary School Primary Regular 477 29 4
Berry Middle School Middle Regular 910 55 5
John Horn High School High Regular 2,284 140 4

Smith Elementary School

  • Education Level: Primary
  • # of students: 477
  • # of teachers: 29
4
GreatSchools Rating

Berry Middle School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 55
5
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$712
Property Tax -$497
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
$2

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.

$205,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,493

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,433

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,5503$1,5754$1,6255$1,750
$1,750
RENT COMPS ANALYSIS
  • 928 Winchester Lane Mesquite, TX 1
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.00
    •  
  • 2403 Weatherby Drive Mesquite, TX 2
    • 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,461 Sqft ∙ Built 1988
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 1231 Rutherford Drive Mesquite, TX 3
    • 4 beds 2 baths ∙ 1,564 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,564 Sqft ∙ Built 1971
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.01
    •  
  • 2424 Baretta Drive Mesquite, TX 4
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 1990
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.96
    •  
  • 2605 Hackberry Creek Mesquite, TX 5
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1995
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
PROPERTY LISTING DETAILS
Roxana Hale
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514405
Last Updated: 02/06/2021
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