1918 Robert Jones DR, Mesquite TX 75150
House Has Nice Open Floorplan Large Living Area 2 Eating Area One In Kitchen. Great Location Near Schools,Shopping And All Major Freeways. The Property Does Need A Little Work,But Can Be A Lovely Home.
This is an interesting multi-family opportunity near downtown Dallas.
This portfolio consists of 3 x 4-plexes, 12 units (doors) altogether.
| 1) 8003 Rothington RD #41-47K | Dallas – 4-Plex |
| 2) 8003 Rothington RD #21-27h | Dallas – 4-Plex |
| 3) 8005 Rothington RD #11-17M | Dallas – 4 Plex |
Listing Price:
1) $199,000
2) $193,000
3) $183,000
Occupancy Rate: 100% (Average 96%).
Current Rental:
1) $625/$625/$625/$550 = $2,425 per month / $29100 p.a. / Gross: 14.6%
2) Same as 1) = $29,100 p.a. / Gross: 15.1%
3) $550/$550/$550/$510 = $2,160 per month / $25,920 per year / Gross: 14.2%
Area Analysis
This is not known as the best area but there are a lot of development going on and we can see many transformations happening here. This area does have some active criminal activities – mostly relating to theft but violent crimes had dropped.
About The Property
These proeprties are showing some interesting opportunities:
1. The average rent in the area and across DFW has been increasing, but the rent in these apartments have actually dropped, this is probably a sign in tenant mix.
2. There is an immediate upside to increase the rent to the market rent – which can increase the yield.
3. The mix of the tenants are unknown – the seller did not disclose the information, but we do know some tenants are Section 8 tenants which is why they are paying under the market rent.
4. The properties were improved 2 to 3 years ago with major interior renovations.
5. The schools nearby are averaged rated (not poorly rated), and there are actually many families moving to this neighborhood, many are new families moving to Dallas.
6. The same owner owns these properties, and they have been on market for a while, and they are motivated sellers especially if somebody wants to make an offer on all the properties together.
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
Address: 240 Conger Dr Mesquite
Condition: Move In Ready
Property Conditon & Analysis
This is a nicely presented property, the neighborhood is very quiet with a lot of families, it is close to school and shopping areas.
Key Points
1) 3 big trees on the side, they can be trimmed back, the roots are not causing any foundation problem.
2) The property is fully updated.
3) 2 good sized large bathrooms
4) 3 good sized bedrooms with closets
5) kitchen is a good size
6) Separate laundry area
7) Nice double garage at back
8) The yard is a bit small, but good to manage
9) It does have a formal dining area
10) The fence may need some painting or strengthening in future
Recent Sales Comparables
1. 337 Crooked LN: 2 Bedroom, 2 Bathroom, No Garage – $86,900, Sq.Ft=$69.63, Not Updated.
RENTAL COMPARISON
1. 278 Alexandria St. Mesquite / 3Bedroom/2 Bathroom/No Garage / Condo / $795 / Not Updated
2. 336 Crooked Lane: 2 BR/2Bath/1 Carpace: $1079, not fully updated.
3. 428 Crooked Lane: 3 BR/2Bath/2 Garage: $1249/Month – Best Comparison
PROPERTY INFORMATION
| Category: | Residential | Type: | RES-Single Family | Orig LP: | $115,000 | ||||||||||||||||||||||||||||||||
| Area: | 5/10 | Also for Lease: | N | Lst $ / SqFt: | $87.53 | ||||||||||||||||||||||||||||||||
| Subdv: | Park Placed Rev | Lease MLS#: | |||||||||||||||||||||||||||||||||||
| County: | Dallas | Lake Name: | |||||||||||||||||||||||||||||||||||
| Parcel ID: | 381535400B0490000 | Plan Dvlpmnt: | |||||||||||||||||||||||||||||||||||
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Legal: | PARK PLACE REV BLK B LOT 49 IN | |||||||||||||||||||||||||||||||||||
| Multi Prcl: | No | MUD Dst:No | Unexempt Taxes: | $2,170 | |||||||||||||||||||||||||||||||||
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| SqFt: | 1,251 / Tax | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||||||||||
| # Gar Spaces: | 2 | Cvrd Park: | 2 | ||||||||||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | 20 x 20 | Yr Built: | 1983 / Preowned | ||||||||||||||||||||||||||||||||
| Acres: | 0.124 | Lot Dimen: | Will Subdiv: | No | |||||||||||||||||||||||||||||||||
| HOA: | None | HOA Dues: | |||||||||||||||||||||||||||||||||||
| School Dist: | Mesquite ISD | |||||
| Elementary School: | Shaw | Middle School: | Agnew | High School: | Mesquite |
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
Address: 5305 Saddleback Rd Garland – Fixer Upper
Listing Price: $94,500
Likely Renovation Cost: Less than $10,000 (Roof, furnace condition unknown).
Descriptions:
We had some technical problems in uploading photos – but please click on the link below to view photos:
Things Need Improvements:
1. Some windows need to be replaced (2)
2. Remove the sheds at the backyard
3. New carpets in: Living Room, Halway, 3 bedrooms
4. Re-painting
5. Some cracks here and there – looks like no major issue
6. Drywalls in the laundry and dining room (small section)
Analysis:
Good layout, good space, the converted garage space is pretty good. No garage as the result, but you can still park on driveway (plenty of space), huge, levelelled backyard, 1 big tree in the backyard but at a distance from the house.
The 2 sheds at the back do not look appealing, the front side looks very nice.
Some visible cracks, but they don’t look of a major concern, but we will still arrange inspector to come in and have a look.
The kitchen is a decent size, just need some minor updates. 2 Full Bathrooms are in good condition and we don’t see major damages, just may need some updates.
The neighborhood seems to be OK, lots of kids playing in the front.
| Category: | Residential | Type: | RES-Single Family | Orig LP: | $112,000 | ||||||||||||||||||||||||||||||||
| Area: | 24/3 | Also for Lease: | N | Lst $ / SqFt: | $59.89 | ||||||||||||||||||||||||||||||||
| Subdv: | New West 03 | Lease MLS#: | |||||||||||||||||||||||||||||||||||
| County: | Dallas | Lake Name: | |||||||||||||||||||||||||||||||||||
| Parcel ID: | 26380500100020000 | Plan Dvlpmnt: | |||||||||||||||||||||||||||||||||||
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Legal: | NEW WEST 3 BLK 10 LOT 2 INT200 | |||||||||||||||||||||||||||||||||||
| Multi Prcl: | No | MUD Dst:No | Unexempt Taxes: | $1,881 | |||||||||||||||||||||||||||||||||
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| SqFt: | 1,578 / Tax | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||||||||||
| # Gar Spaces: | 0 | Cvrd Park: | 0 | ||||||||||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | Yr Built: | 1971 / Preowned | |||||||||||||||||||||||||||||||||
| Acres: | 0.159 | Lot Dimen: | Will Subdiv: | No | |||||||||||||||||||||||||||||||||
COMPARABLES
Likely Rental Range: $1,350 to $1,450 per month (around 0.76 to 0.80 per sq.ft – as this is a bigger house, but lack of garage may see some discount).
Recent Sales Comparables
$ per sq.ft range on fully updated: $75 to $90 per sq.ft
| 5109 Burlingame DR | Garland | 75043-3541 | LP: | $91,900 – Much smaller, 2 bedrooms only |
| 5318 Robin RD | Garland | 75043-3611 | LP: | $119,900 – Sold for $120,000, Newer (2007), similar size, 3 bedrroms |
| 5103 Burlingame DR | Garland | 75043-3541 | LP: | $97,000 – Smaller Size, 3 bedrooms, |
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
Property: 2833 Thrush Drive, Mesquite.
Listing Price: $142,999 (Original Listing: $139,999)
Property Tax: $3,266 a year
Size: 4 Bedrooms
Sq.Ft: 1,930 sq.ft
Rent: $1,400 to $1,600 range, there was one nearby rented out at $1,475 recently.
Analysis
We went to check out this property in August, it is a large property (1930 sq.ft), newer home (built in 2003), nice neighborhood, close to school and very quiet street. Unfortunately, our camera experienced some difficulty so I was unable to take some photos.
This is a bank owned property and had been on market for over 4 months now. The contractors went back and did some updates (carpets and flooring) but did not finish them.
The interiors are actually in pretty good condition – just need to get a contractpr to finish off – which won’t be a lot of cost.
There is no stove or oven in the kitchen, so you need to add that into your cost consideration.
The roof is in good condition, needs to turn on utilities to see if furnace works, also it needs to be checked for foundation as it has been vacant for a long time and water had been turned off.
| School Dist: | Mesquite ISD | |||||
| Elementary School: | Rutherford | Middle School: | Berry | High School: | Horn |
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| SqFt: | 1,930 / Tax | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||
| # Gar Spaces: | 2 | Cvrd Park: | 2 | ||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | Yr Built: | 2003 / Preowned | |||||||||||||||||||||||||
| Acres: | 0.138 | Lot Dimen: | Will Subdiv: | No | |||||||||||||||||||||||||
| HOA: | Mandatory | HOA Dues: | / Other | ||||||||||||||||||||||||||
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
Property: 2816 Thrush Drive Mesquite
Description: Open floor plan, 1,763 sq.ft, built in 2003. It has lots of rooms, the current owner has not cleaned the property well, but we can see it has lots of cabinet spaces and also good space to use for a family.
The photos show what the condition would look like when it is vacant.
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
Listing Price: $142,500
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| SqFt: | 1,763 / Tax | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||
| # Gar Spaces: | 2 | Cvrd Park: | 0 | ||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | Yr Built: | 2003 / Preowned | |||||||||||||||||||||||||
| Acres: | 0.155 | Lot Dimen: | Will Subdiv: | No | |||||||||||||||||||||||||
| HOA: | Mandatory | HOA Dues: | $490 / Annual | ||||||||||||||||||||||||||
| Category: | Residential | Type: | RES-Single Family | Orig LP: | $142,500 | ||||
| Area: | 5/13 | Also for Lease: | N | Lst $ / SqFt: | $80.83 | ||||
| Subdv: | Falcons Lair Ph 1b | Lease MLS#: | |||||||
| County: | Dallas | Lake Name: | |||||||
| Parcel ID: | 380874800J0060000 | Plan Dvlpmnt: | |||||||
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Legal: | FALCONS LAIR PH 1B BLK J LT 6 | |||||||
| Multi Prcl: | Yes | MUD Dst:No | Unexempt Taxes: | $3,083 | |||||
Property Description: Tiny house, 2 bedroom, 1 Bathroom
This house is 770 sq.ft only, needs some works – we have not inspected the property yet, we will inspect the property when an offer has been made and accepted.
Listing Price: $35,000
Type: HUD home
It is unsual to find properties in Mesquite under $35,000, this is a more speculative investment – the interiors appear to be OK based on the photos, but will always need inspection.
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| SqFt: | 770 / Tax | Appraiser Name: | Hdcp Am: | No | |
| # Gar Spaces: | 1 | Cvrd Park: | 1 | ||
| # Carprt Spcs: | 0 | Garage Size: | 11 x 23 | Yr Built: | 1955 / Preowned |
| Acres: | 0.156 | Lot Dimen: | Will Subdiv: | No | |
| HOA: | None | HOA Dues: | |||
Nearby Comparisons:
There are no direct comparables (2 bedrooms) – but some 3 bedroom homes sold recently:
A) $69,000 for a 3 Bedroom / 2 bathroom home
B) $89,000 for a 3 bedroom / 2 bathroom home
C) $95,000 for a 3 bedroom / 2 bathroom home
Crime Rate: Medium
Click Here For More Information
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
Address: 703 Darnel Dr Mesquite
Listing Price: $112, 000 (Just reduced price)
Condition: Move In Ready
Main Points:
1) Nice lot
2) Nice Location
3) Converted space has created new living space and bedroom
4) Half Garage – not sure if to call this Garage at all!
5) Utility Room – can’t see the laundry – which is strange.
6) It’s really a 3 bedroom with a large study area.
Analysis:
The layout is intersting – the converted garage space had created a new bedroom and living space, and 2nd full bathroom. However, the half-garage is not useful as it can’t be used as a garage, and just a storage space – it will be a good idea to add a carport or somehow convert the half garage into a full garage.
Original Property Description
Great home with 4 bedrooms, 2 baths, spacious living area, with laminate wood flooring, fresh paint in some rooms. Fml dining room can be used as study if needed. Hot water heater replaced in 2012, roof 2012, foundation has transferable warranty, all windows have been replaced, white vinyl fence in back yard, covered patio with ceiling fan, sprinkler system in yard. converted garage. 1 half garage has storage.
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA
Email: rwp1688@gmail.com
(469) 347 1839
| School Dist: | Mesquite ISD | |||||
| Elementary School: | Rutherford | Middle School: | Berry | High School: | Horn |
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| SqFt: | 1,686 / Tax | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||
| # Gar Spaces: | 0 | Cvrd Park: | 0 | ||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | 9 x 18 | Yr Built: | 1978 / Preowned | ||||||||||||||||||||||||
| Acres: | 0.165 | Lot Dimen: | 60 x 120 | Will Subdiv: | No | ||||||||||||||||||||||||
| HOA: | None | HOA Dues: | |||||||||||||||||||||||||||
Address: 323 Teakwood Drive, Mesquite
Condition: Some updates required – a lot of stuff inside the property now, AC & roof are less than 5 years old.
Features: Large backyard, 4 bedrooms, 2 bathrooms, fenced backyard – good size and layout.
Sales Comparables:
1. 1,579 sq.ft / 3 BR / 2 Bathrooms / 1967 Built Home: $89,000 ($56.3/sq.ft) – Larger home.
2. 1,523 sq.ft / 3 BR / 2 BA / 1973 – $120,000 ($78.79 / sq.ft)
3. 1,136 sq.ft / 3 BR / 2 BA / 1966 – $80,000 ($72.36 / sq.ft)
Rental Estimate
$1,250 / 1436 sq.ft (3/2)
$975 / 1,512 sq.ft (Much older style)
$895 / 820 sq.ft (4/2) (Tiny House)
Estimated Rental: $1,050 to $1,150 per month once fully updated
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| SqFt: | 1,350 / Tax | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||
| # Gar Spaces: | 1 | Cvrd Park: | 1 | ||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | 19 x 9 | Yr Built: | 1966 / Preowned | ||||||||||||||||||||||||
| Acres: | Lot Dimen: | Will Subdiv: | No | ||||||||||||||||||||||||||
| HOA: | None | HOA Dues: | |||||||||||||||||||||||||||
| School Dist: | Mesquite ISD | |||||||||||||||||||||||||||||
| Elementary School: | Black | Middle School: | Agnew | High School: | Mesquite | |||||||||||||||||||||||||
Thomas Su
Realtor
Keller Williams Realty
18383 Preston Rd. Ste 150
Dallas, TX 75252, USA Email: rwp1688@gmail.com
(469) 347 1839
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Address: 1510 Cross Courts Dr Garland
Condition: Move In Ready
Listing Price: $130,000
Feature: With Swimming Pool
Estimetd Repairs: None
Estimated Rent in this area: 0.80 to 0.85 per sq.ft – Est. Rent $1350 to $1400 range as this one has a swimming pool and is in very good condition.
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| SqFt: | 1,407 / Tax | Appraiser Name: | Hdcp Am: | No | |||||||||||||||||||||||||
| # Gar Spaces: | 2 | Cvrd Park: | 2 | ||||||||||||||||||||||||||
| # Carprt Spcs: | 0 | Garage Size: | Yr Built: | 1993 / Preowned | |||||||||||||||||||||||||
| Acres: | 0.119 | Lot Dimen: | Will Subdiv: | No | |||||||||||||||||||||||||
| HOA: | None | HOA Dues: | |||||||||||||||||||||||||||
