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1012 Vestal Lane Carrollton, TX 75007

4 Beds 3 Baths 2,802 sqft Built 1994

$350,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $124.91
  • 15 Days on Market
  • MLS # : 14463871
  • Updated Date : 11/09/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,802 sqft
  • Baths : 3 full
Listing Agent

Targetcost Realty

Listing Agent's Description

This beautiful home boast of a 2 story height grand entry, 4 bedrooms, 3 baths, 2 living, 2 dining and game room. One bedroom and bath on the first floor could be a guest room. Check out the beautiful wood flooring in the living, dining, game room and stairs. Carpet in master was replaced this year with laminate flooring, secondary bedrooms have carpet. Roof was replaced in 2018. Home also has large covered patio perfect place to enjoy some fresh air or entertaining. This is an opportunity you do not want to miss.

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: Rosemeade Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $122k357k

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

Neighborhood: Rosemeade Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262380

* 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
Polser Elementary School Primary Regular 466 31 5
Creek Valley Middle School Middle Regular 795 52 7
Hebron High School High Regular 2,458 138 7

Polser Elementary School

  • Education Level: Primary
  • # of students: 466
  • # of teachers: 31
5
GreatSchools Rating

Creek Valley Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 52
7
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,291
Property Tax -$997
Property Insurance -$189
HOA -$31
Property Management Fees -$99
CASH FLOW
-$197

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,473

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3504$2,4105$2,600
$2,600
RENT COMPS ANALYSIS
  • 1012 Vestal Lane Carrollton, TX 4
    • 3 beds 3 baths ∙ 2,802 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,802 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.86
    •  
  • 1005 Creek Bend Road Carrollton, TX 1
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1993
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 1008 Janus Drive Carrollton, TX 2
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1994
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 1321 Pawnee Trail Carrollton, TX 3
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1993
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.88
    •  
  • 3801 Morning Dove Carrollton, TX 5
    • 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,701 Sqft ∙ Built 2004
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ikay Aburime
Targetcost Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463871
Last Updated: 11/09/2020
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