Howdy! Today we’re putting the heat on Dallas! Hipster is going south again to look at a different Texas city we absolutely love. Why are we keen on Dallas? First off, it’s the #1 MSA for job growth in the entire country. It’s also the #1 MSA for population growth in the country! Woot! It’s the 4th largest metropolitan area in the United States and is home to an entire 18 Fortune 500 companies…. Clearly, this city is strong. What makes it even stronger for investors are the insanely great buy-in prices: home prices are, on average, 20 percent below the national median! It’s now obvious why Hipster is flipping out about Dallas! Take a look at today’s hot property find!
LOCATION: LANCASTER, TX.
Built In: 2006 (but fully redeveloped, including: plumbing, electrical, you name it)
Purchase price: $175,500 (not a foreclosure, normal sale)
Property info: 5 bedrooms, 3 bathrooms, 3,648 square feet, 2+ stories, 2 car garage
Monthly rent collected: $1,595
Monthly expenses (conservatively estimated)
Property taxes: $306
Property management fees: $128
Vacancy (7%): $112
Repairs (5%): $80
Total Monthly Expenses- $692
Net Income = Income – Expenses = $903
Cap Rate = 6.17 %
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 3 month property maintenance guarantee
If you are interested in this property or seeing others like it, contact Melissa at email@example.com.
Take the plunge: you won’t regret it!