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1114 Seminary Ridge Garland, TX 75043

3 Beds 3 Baths 2,299 sqft Built 1985

$305,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $132.67
  • 2 Days on Market
  • MLS # : 14535019
  • Updated Date : 03/20/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,299 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Michael Group

Listing Agent's Description

Gorgeous home with custom features throughout! Kitchen with granite countertops and built-in hutch with glass inserts, composite granite sink and a fabulous backsplash highlight this single-story gem in Club Country. Master bath with antique vanity with granite; relax in a large air tub and a huge shower with bench seat, multiple body jets, and a rain showerhead. Dining used as office. Lots of extras including 5 wall mounted flat screen TV's, Whole house speaker system, including garage. Sprinkler system with an auto rain sensor and rain drip system around foundation and a surface and subsurface drainage system. Living areas with a see-through fireplace and 12 foot coffered ceiling. What a beauty!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Club Hill

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k279k

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

Neighborhood: Club Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9401954

* 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
Hillside Academy For Excel Primary Magnet 463 29 10
Classical Center At Brandenburg Middle School Middle Magnet 1,158 64 8
Sachse High School High Regular 2,859 159 7

Hillside Academy For Excel

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
10
GreatSchools Rating

Classical Center At Brandenburg Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 64
8
GreatSchools Rating

Sachse High School

  • Education Level: High
  • # of students: 2,859
  • # of teachers: 159
7
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,059
Property Tax -$717
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$65

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.

$305,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 14.6%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,221

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,012

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8953$1,9704$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1114 Seminary Ridge Garland, TX 3
    • 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,299 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.86
    •  
  • 2817 Harpers Ferry Garland, TX 1
    • 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 1981
    property image
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
  • 3001 Jeremes Landing Garland, TX 2
    • 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1985
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 2116 Meadowview Court Garland, TX 4
    • 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 1983
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 1126 Gardengate Circle Garland, TX 5
    • 3 beds 2 baths ∙ 2,107 Sqft ∙ Built 1974 3 beds 2 baths ∙ 2,107 Sqft ∙ Built 1974
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Gloria Robinson
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535019
Last Updated: 03/20/2021
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