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1213 Gardenia Lane Crowley, TX 76036

3 Beds 2 Baths 1,501 sqft Built 2010

$219,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $145.90
  • 3 Days on Market
  • MLS # : 14540805
  • Updated Date : 03/27/2021 at 11:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,501 sqft
  • Baths : 2 full
Listing Agent

Rekonnection, Llc

Listing Agent's Description

INVESTOR SPECIAL. Exceptional and well maintained 3 Bedroom home in Crowley. This home is located in a quiet community, walking distance to playground, minutes drive to schools, highways, and shopping. Large Master with separate shower and tub. Spacious spare rooms. Several interior upgrades and features, including new carpet through out, high ceilings, large living area, and kitchen with breakfast bar. Big fenced backyard with doggy door and shed. 2 car garage. Tenants have lease through October 31st. SHOWINGS BEGIN SATURDAY, MARCH 27TH.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Lasater Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Neighborhood: Lasater Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Bess Race Elementary School Primary Regular 673 38 3
Crowley High School High Regular 2,033 150 4
Crowley High School High Unknown NA

Bess Race Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 38
3
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$761
Property Tax -$543
Property Insurance -$114
HOA -$16
Property Management Fees -$99
CASH FLOW
-$92

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.

$219,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.66%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$3,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,478

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,4404$1,4755$1,565
$1,565
RENT COMPS ANALYSIS
  • 1213 Gardenia Lane Crowley, TX 3
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.96
    •  
  • 1161 Browntop Street Crowley, TX 1
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 2005
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.99
    •  
  • 1249 Cottonwood Drive Crowley, TX 2
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2006
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 1152 Boxwood Drive Crowley, TX 4
    • 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,543 Sqft ∙ Built 2005
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.96
    •  
  • 508 Olive Street Crowley, TX 5
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2002
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $1.00
    •  
PROPERTY LISTING DETAILS
Brian Lynch
Rekonnection, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540805
Last Updated: 03/27/2021
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