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9819 Windy Terrace Drive Dallas, TX 75231

3 Beds 3 Baths 2,882 sqft Built 1981

$648,500

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $225.02
  • 4 Days on Market
  • MLS # : 14469608
  • Updated Date : 11/13/2020 at 10:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,882 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

This beautifully updated contemporary-style home has it all! Three bedrooms, three full baths, two living areas, an extra storage space or craft room, and a naturally bright kitchen. Hardwoods and Saltillo tile compliment the home. Upstairs is where you will find the huge master bedroom with a sitting area, plus an office or storage room with its own entry. Master bath features separate vanities, a 5'x5' walk-in shower, plus two walk-in closets, and a view of the pretty pool area and grassy backyard. Bedrooms two and three share a Jack-in-Jill bath which has a combo tub and shower with it's own door to grant full privacy, and have walk-in closets. This backyard has grass, a pool, and space for entertaining!

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $88k368k

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

Neighborhood: Lake Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9452549

* 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
Merriman Park Elementary School Primary Regular 518 33 6
Merriman Park Elementary School Middle Regular 518 33 6
Lake Highlands High School High Regular 1,707 112 5

Merriman Park Elementary School

  • Education Level: Primary
  • # of students: 518
  • # of teachers: 33
6
GreatSchools Rating

Merriman Park Elementary School

  • Education Level: Middle
  • # of students: 518
  • # of teachers: 33
6
GreatSchools Rating

Lake Highlands High School

  • Education Level: High
  • # of students: 1,707
  • # of teachers: 112
5
GreatSchools Rating
 

$583,650$713,350$648,500

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,393
Property Tax -$1,538
Property Insurance -$194
Property Management Fees -$99
CASH FLOW
-$963

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.

$648,500

PROJECTED PRICE

$3,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 5.8%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,603

INVESTMENT

$177,603

Down Payment
$162,125
Rehab Estimate
$5,750
Closing Costs
$9,728

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,393

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,125
Loan Amount $486,375
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$30

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $3,386

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,2603$3,4004$3,5005$4,000
$4,000
RENT COMPS ANALYSIS
  • 9819 Windy Terrace Drive Dallas, TX 2
    • 3 beds 3 baths ∙ 2,882 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,882 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $1.13
    •  
  • 9535 Viewside Drive Dallas, TX 1
    • 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,627 Sqft ∙ Built 1980
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.14
    •  
  • 9114 Glen Springs Drive Dallas, TX 3
    • 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1974 4 beds 3 baths ∙ 3,022 Sqft ∙ Built 1974
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.13
    •  
  • 8919 Vista Gate Drive Dallas, TX 4
    • 4 beds 3 baths ∙ 3,010 Sqft ∙ Built 1974 4 beds 3 baths ∙ 3,010 Sqft ∙ Built 1974
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.16
    •  
  • 9401 Moss Farm Lane Dallas, TX 5
    • 4 beds 4 baths ∙ 3,160 Sqft ∙ Built 1979 4 beds 4 baths ∙ 3,160 Sqft ∙ Built 1979
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.27
    •  
PROPERTY LISTING DETAILS
Konnie Clayton
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469608
Last Updated: 11/13/2020
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