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938 Mary Cliff Road Dallas, TX 75208

3 Beds 3 Baths 2,326 sqft Built 2016

$569,500

List Price

$3,540

$3.3K - $3.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $244.84
  • 4 Days on Market
  • MLS # : 14478393
  • Updated Date : 01/02/2021 at 14:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,326 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Modern Farmhouse; industrial-smart-green. Charming Oak Cliff history meets 21st century life. Corner lot in unique community between Kessler & Winnetka Heights. Massive cook-eat-live concept floor plan with separation of space work-educate-exercise options. Extra large primary suite; 2 additional BRs w-huge closets. Separate utility room. Big covered patio and yard. Security control pad, keyless entry & surveillance hardware. Vaulted ceilings; hardwood; concrete; ss appliances. Luxury fixtures; custom shades; Belgian linen drapes. Energy efficient; solar; foam insulation; tankless water; Zoned HVAC. Landscape maintained by the HOA. Also for lease @ $2,999 monthly.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Kings Highway Conservation District

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $88k418k

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

Neighborhood: Kings Highway Conservation District

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9452147

* 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
Rosemont Elementary And International Language Preparatory Middle School Primary Regular 475 29 6
W.e. Greiner Exploratory Arts Academy Middle Magnet 1,542 98 8
Sunset High School High Regular 2,078 123 4

Rosemont Elementary And International Language Preparatory Middle School

  • Education Level: Primary
  • # of students: 475
  • # of teachers: 29
6
GreatSchools Rating

W.e. Greiner Exploratory Arts Academy

  • Education Level: Middle
  • # of students: 1,542
  • # of teachers: 98
8
GreatSchools Rating

Sunset High School

  • Education Level: High
  • # of students: 2,078
  • # of teachers: 123
4
GreatSchools Rating
 

$512,550$626,450$569,500

PURCHASE PRICE

$3,186$3,894$3,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,540
EXPENSES Loan Payment -$2,101
Property Tax -$1,350
Property Insurance -$162
HOA -$146
Property Management Fees -$99
CASH FLOW
-$318

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.

$569,500

PROJECTED PRICE

$3,540

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$1.6M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,668

INVESTMENT

$156,668

Down Payment
$142,375
Rehab Estimate
$5,750
Closing Costs
$8,543

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,101

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,375
Loan Amount $427,125
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,754

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,540

    LIST RENT
  • $1.52

    LIST RENT PER SQFT
  • $3,559

    COMP ESTIMATED VALUE
  • $1.53

    COMP AVG. RENT PER SQFT
Comps Range
$3,250
1$3,2502$3,5003$3,5004$3,5005$3,540
$3,540
RENT COMPS ANALYSIS
  • 938 Mary Cliff Road Dallas, TX 5
    • 3 beds 3 baths ∙ 2,326 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,326 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,540
    • $1.52
    •  
  • 1970 Kessler Heights Lane Dallas, TX 1
    • 3 beds 4 baths ∙ 2,204 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,204 Sqft ∙ Built 2017
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.47
    •  
  • 1952 Kessler Heights Lane Dallas, TX 2
    • 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2018
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
  • 1868 Stevens Bluff Lane Dallas, TX 3
    • 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
  • 1880 Stevens Bluff Lane Dallas, TX 4
    • 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,260 Sqft ∙ Built 2016
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.55
    •  
PROPERTY LISTING DETAILS
Marilyn Iness
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478393
Last Updated: 01/02/2021
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