Status
Market MatchUP
How this home compares to similar 1 bedroom homes in Dallas- Price Comparison$119,866 lower
- Home Size285 sq. ft. smaller
- Built in 1975Older than 54% of homes in Dallas
- Dallas Snapshot• 4771 active listings• 6% have 1 bedrooms• Typical 1 bedroom size: 799 sq. ft.• Typical 1 bedroom price: $219,365
Description
*TURN-KEY INVESTMENT** Opportunity to acquire 1-3 highly performing, newly updated properties in the growing Midtown Improvement District of Dallas. With current, performing leases in place and capital improvements already completed, this property is an ideal addition to an existing rental portfolio or for someone seeking to establish one. Unit is operating at an 8.5% CAP Rate with low HOA dues and tenants responsible for their own utilities. Properties are located in an ideal location providing access to multiple highways, Dart Rail, shopping, restaurants and major healthcare facilities. The value add opportunity for this unit would be in the substantial investment from the City of Dallas through MID, with numerous planned improvements for the upcoming year that have already been approved and made public. Investments have already been made in two new schools (4 total), Vickery Park branch of the Dallas Public Library, parks, and the SOPAC trail which connects residents to Flag Pole Hill, White Rock Lake and Katy Trail. This benefit has already been realized in property values and rent rates over the last couple of years and with planned updates to the complex, as well, it should only continue to improve. Additional information can be found on the Midtown Improvement Districts website. This property can be purchased independently or as part of a three-unit package, with MLS# 20990566 and one additional unit that will is off market, but is available as part of a package deal.
MLS Listing ID
Listed By
Map
Estimated Monthly Payment
$994Loan Amount
$94,525This calculator is illustrative, but your unique situation will best be served by seeking out a purchase budget pre-approval from a reputable mortgage provider. Start My Mortgage Application can provide you an approval within 48hrs.
Home Facts
Bathroom
Kitchen
Appliances
- Disposal
- Electric Oven
- Refrigerator
- Electric Range
Highlights
Interior Features
- Cable TV
- Walk-In Closet(s)
- Vaulted Ceiling(s)
- Loft
Roof
- Shingle
Sewer
- Public Sewer
Levels
- Two
Cooling
- Central Air
- Electric
Pool Features
- None
Parking Features
- On Site
- Common
- Permit Required
- Parking Lot
Community Features
- Community Mailbox
- Gated
Fireplace Features
- Wood Burning
- Den
Flooring
- Laminate
Foundation Details
- Slab
Architectural Style
- Traditional
Construction Materials
- Stucco
Heating
- Fireplace(s)
- Electric
- Central
Utilities
- Water Available
- Electricity Connected
- Electricity Available
- Cable Available
- Sewer Available