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9516 Rhapsody Lane Shreveport, LA 71118

4 Beds 2 Baths 1,603 sqft Built 2004

$189,900

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $118.47
  • 1 Days on Market
  • MLS # : 280187NL
  • Updated Date : 03/14/2021 at 00:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

The Asset Agency Real Estate Firm, Llc

Listing Agent's Description

MORE FOR YOUR MONEY!!! BIG TICKET ITEMS NEW WITHIN 5 YEARS: 2016 installed Carrier Heat Pump w/10 yr. warranty, 2017 New roof installed w/ Upgraded Architectural shingles (30 yr.), 2019 Tile Plank Flooring installed living & kitchen. 4 BEDROOMS, REMOTE Master suite, His & Her Vanities & Closets, Whirlpool tub, Stall Shower. Covered patio, Fully fenced backyard. GATED COMMUNITY, Homeowner's Association $50 monthly covers gate entrance, front lawn maintenance only. Well maintained, MOVE IN READY!

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: Jenkins-Pinecroft

NeighborhoodNIR Market*CityMarket2010Year2004 Q3201975k80k85k90k95k100k105k110k115k120k125k130kPrice in $73k134k

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

Neighborhood: Jenkins-Pinecroft

NeighborhoodNIR Market*CityMarket2015Year2009 Q32019 Q286088090092094096098010001020104010601080110011201140Rent in $8481159

* 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
Claiborne Fundamental Elementary School Primary Magnet 401 26 10
Caddo Middle Magnet Middle Magnet 1,281 65 10
Caddo Parish Magnet High School High Magnet 1,122 69 9

Claiborne Fundamental Elementary School

  • Education Level: Primary
  • # of students: 401
  • # of teachers: 26
10
GreatSchools Rating

Caddo Middle Magnet

  • Education Level: Middle
  • # of students: 1,281
  • # of teachers: 65
10
GreatSchools Rating

Caddo Parish Magnet High School

  • Education Level: High
  • # of students: 1,122
  • # of teachers: 69
9
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$660
Property Tax -$243
Property Insurance -$57
HOA -$50
Property Management Fees -$99
CASH FLOW
$221

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$189,900

PROJECTED PRICE

$1,330

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 1.87%
Appreciation Year (1-5) 2.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.23%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$18,971

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,550
$1,550
RENT COMPS ANALYSIS
  • 9516 Rhapsody Lane Shreveport, LA 1
    • 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,603 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.83
    •  
  • 2712 Long Branch Lane Shreveport, LA 2
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1996
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
PROPERTY LISTING DETAILS
Shelley Crow-liles
The Asset Agency Real Estate Firm, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 280187NL
Last Updated: 03/14/2021
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