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Amazing Updated Rental in Dallas! [Code: 340]

Posted by Powered by Simply Do It on February 28, 2022
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After 15 Years (no mortgage)  
Original purchase price $295,000
Total investment (out of pocket) $81,150
15 yrs Project house value $539,923
Value (appreciation) Gain $244,923
15 yrs cash-flow generated $50,525
Total Gain $295,447
ROI (15 yrs) 364%
ROI (annually) 24%
   
Free & Clear cash flow (yr.) $18,362
Free & Clear cash flow (m) $1,530
  • 3 bedroom 2 bath single family residence
  • Highly sought after neighborhood 
  • Price reduced by $5.2k on (2/19)
  • No (low) crime area
  • Over $150/mo. cash flow
  • Hardwood flooring throughout
  • Home has been listed for over 30 days giving opportunity for price negotiation
  • 2 car attached garage
  • Adorable matching storage shed in the yard
  • This home has had recent updates which include new flooring, new baseboards, fresh paint, updated master shower, updated guest bath, new kitchen, new granite, and updated lighting
  • 7,144 square foot lot

Why should you consider this house / what makes it a good investment?

  • Built: 1964
  • Size: 1,768  sq ft
  • Quiet residential street, Desirable community, good schools

What's next?

Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.

Metro: Dallas

Team: Lindsay – email directly at dfw1@simplydoit.net

Code: 340


Property Specifications 1
 Bedrooms 3
 Bathrooms 2
 Square Feet 1768
 Year Built 1964
 Garage Size 2
 Schools Rating (on scale of A-F) B

Purchase Assumptions My Offer
Offer used for analysis $295,000
Suggested offer (low) $295,000
Suggested offer (high) $295,000
Asking $299,800
Market Value (after improvements) $299,800
Improvements (lower) $1,500
Improvements (upper) $1,500
Closing Costs $2,950
Mortgage Costs $2,950
Other Fees At Closing $0
Total Cost  $302,400

Financial Assumptions Monthly Yearly
Rent (upper) $1,900 $1,950 $23,400
Rent (lower) $1,850 $22,200
 Property Tax Rate (Approx.) 2.6%  
 Property Taxes $330 $3,960
 Insurance $100 $1,200
 Repairs $75 $900
Variable-Cost PM Flat Fee  
Property Management Fee $100 $1,200
 Leasing Fee 80% $63.3 $760
 HOA $0 $0
 Vacancy Rate 4.0%  
 Total Fixed Expenses $740 $8,884
 Total Expenses (Fixed + Mortgage) $1,797 $21,559

Financial Analysis / Deal Attractiveness        
Years: 5 10 15 20
 Cap Rate 2.2% 3.2% 4.2% 5.2%
 Net Cash Flow $9,043 $25,623 $50,525 $84,615
 Equity Increase $86,087 $190,918 $318,572 $474,019
 Total Gain $95,130 $216,540 $369,096 $558,634
           
 Average Cash Flow/Year $1,809 $2,562 $3,368 $4,231
 Average Cash Flow/Month $151 $214 $281 $353
 Average Gain/Year $19,026 $21,654 $24,606 $27,932
 Average ROI 117.2% 266.8% 454.8% 688.4%
 Annual ROI 23.4% 26.7% 30.3% 34.4%
 Projected Property Value $364,753 $443,777 $539,923 $656,899

Property Ratings Suggestions
 Item      Suggested Criteria (Min.) This Property FAVORABLE /
INSUFFICIENT
 Schools     B B FAVORABLE
 Square Feet   1000 1768 FAVORABLE
 Bedrooms   3 3 FAVORABLE
 Bathrooms   2 2 FAVORABLE
 Year Built   1970 1964 INSUFFICIENT
 Rent/Price (%)   0.75% 0.66% INSUFFICIENT
 Average Cash Flow (at year 5) $125 $151 FAVORABLE
 Average ROI (at year 5) 15% 23.4% FAVORABLE
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Disclaimer

Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info. 

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