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1202 Howard Lane Garland, TX 75044

4 Beds 3 Baths 3,278 sqft Built 2006

$500,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $152.53
  • 4 Days on Market
  • MLS # : 14451202
  • Updated Date : 11/13/2020 at 16:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,278 sqft
  • Baths : 3 full
Listing Agent

Vivo Realty

Listing Agent's Description

This stunning 4 bed, 3 bath, with formal dining, media and study, sits on a premium, oversized corner lot overlooking greenbelt with breathtaking views. Highly sought after floorplan has all bedrooms, but one down with upstairs including media plus bedroom and full bath. High ceilings and wall of windows allow the home to bask in natural sunlight. The backyard is the perfect everyday getaway with pool, spa, plenty of green space, covered back patio and privacy fence. From ideal location to key structural details like having a sink in utility, this home has it all. Pre-inspection complete, new carpet throughout and a fresh coat of paint makes this home ready for you to fall in love and call this house, home.

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: Provence

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k473k

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

Neighborhood: Provence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9403025

* 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
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,845
Property Tax -$1,175
Property Insurance -$217
HOA -$40
Property Management Fees -$99
CASH FLOW
-$926

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$500,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$27

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,475

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3953$2,3954$2,3955$2,450
$2,450
RENT COMPS ANALYSIS
  • 1202 Howard Lane Garland, TX 5
    • 4 beds 3 baths ∙ 3,278 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,278 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.75
    •  
  • 602 Glen Hollow Drive Garland, TX 1
    • 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1998
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.70
    •  
  • 329 Saddlebrook Drive Garland, TX 2
    • 5 beds 5 baths ∙ 3,142 Sqft ∙ Built 1998 5 beds 5 baths ∙ 3,142 Sqft ∙ Built 1998
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.76
    •  
  • 4213 Lee Hutson Drive Sachse, TX 3
    • 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,124 Sqft ∙ Built 2011
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.77
    •  
  • 5313 Deer Brook Road Garland, TX 4
    • 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 1997
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.79
    •  
PROPERTY LISTING DETAILS
Demi Gandomkar
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14451202
Last Updated: 11/13/2020
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