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964 Tara Drive Burleson, TX 76028

3 Beds 2 Baths 2,047 sqft Built 2012

$297,500

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $145.33
  • 3 Days on Market
  • MLS # : 14513068
  • Updated Date : 02/06/2021 at 16:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,047 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Virtual 3D Walkthrough available upon request. Burleson beauty with classic styling that is sure to impress! Gorgeous Landscaping - Open Concept with Spacious Living and Kitchen - Upgraded Maple Cabinetry with Extended Bar - Gas Stove - Walk-in Pantry - 10Ft Vaulted Ceilings - Decorative Gas Log Fireplace - 18inch Marazzi Tile Floors - Custom Tuscan Accent Walls - Large Master Closet for Him and HUGE 12ft x 12ft Master Closet for Her - Split Bedrooms - Formal Dining can Double as Office - 2.5 Car Garage - Private Covered Porch with Enlarged Pad - Backyard Oasis - Energy Efficient Home - Burleson ISD! It's easy to see the pride in ownership when walking through this home. Schedule today because this won't last!

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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

Zip Code: 76028

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Zip Code: 76028

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Bransom Elementary School Primary Regular 504 35 6
Centennial High School High Unknown NA

Bransom Elementary School

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 35
6
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$267,750$327,250$297,500

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,033
Property Tax -$713
Property Insurance -$146
HOA -$41
Property Management Fees -$99
CASH FLOW
-$172

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.

$297,500

PROJECTED PRICE

$1,860

PROJECTED RENT

0.63%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,588

INVESTMENT

$84,588

Down Payment
$74,375
Rehab Estimate
$5,750
Closing Costs
$4,463

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,375
Loan Amount $223,125
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,904

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8504$1,860
$1,860
RENT COMPS ANALYSIS
  • 964 Tara Drive Burleson, TX 4
    • 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,047 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.91
    •  
  • 1033 Oak Valley Road Burleson, TX 1
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1992
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 1140 Hidden Meadow Drive Burleson, TX 2
    • 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,019 Sqft ∙ Built 2008
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 901 Evandale Road Burleson, TX 3
    • 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,976 Sqft ∙ Built 1995
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Landen Miller
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513068
Last Updated: 02/06/2021
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