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945 Manor Drive Desoto, TX 75115

5 Beds 2 Baths 2,359 sqft Built 1985

$229,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $97.08
  • 3 Days on Market
  • MLS # : 14480008
  • Updated Date : 12/04/2020 at 15:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,359 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Centre Estates Beauty.Lots of light.Large living areas open to each other,living & dining separated by a beautiful fireplace in living room.Kitchen & breakfast room open to the living areas.All living areas overlook the backyard.Master bedroom is a dream with room for a sitting area surrounded by windows with window seats & huge walk-in closet.Spacious master bath with dual sinks & linen closet.4 other bedrooms share a hall bath.2 bedrooms have 2 closets each room.Abundant closet space with 2nd linen closet & coat closet.HVAC & ducts replaced Nov 2019 with Energy efficient units.Engineered hardwood floors.Quiet neighborhood.Close to restaurants & city library.Easy access I35 & I20, 15 min.drive to Bishop Arts!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Centre Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Centre Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451741

* 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
Northside Elementary School Primary Regular 537 30 4
Desoto East Middle School Middle Regular 687 43 3

Northside Elementary School

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 30
4
GreatSchools Rating

Desoto East Middle School

  • Education Level: Middle
  • # of students: 687
  • # of teachers: 43
3
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$845
Property Tax -$547
Property Insurance -$164
HOA -$4
Property Management Fees -$99
CASH FLOW
$81

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.

$229,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.9%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,698

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7403$1,7504$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 945 Manor Drive Desoto, TX 2
    • 5 beds 2 baths ∙ 2,359 Sqft ∙ Built 1985 5 beds 2 baths ∙ 2,359 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.74
    •  
  • 942 Echobrook Place Desoto, TX 1
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 1977
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.71
    •  
  • 1110 Westlake Drive Desoto, TX 3
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1971 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1971
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.68
    •  
  • 1017 Shadywood Lane Desoto, TX 4
    • 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,397 Sqft ∙ Built 1973
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.75
    •  
  • 1270 Royal Oak Drive Desoto, TX 5
    • 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,493 Sqft ∙ Built 1980
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
PROPERTY LISTING DETAILS
Hanne Sagalowsky
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480008
Last Updated: 12/04/2020
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