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1223 N Slope Carrollton, TX 75007

3 Beds 2 Baths 1,615 sqft Built 1983

$279,900

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $173.31
  • 2 Days on Market
  • MLS # : 14442180
  • Updated Date : 11/07/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,615 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Plano

Listing Agent's Description

Absolutely stunning corner lot, in a desirable location across the park, in the highly sought after Carrollton-Farmers Branch ISD!! The cozy high-ceilings living room opens to a spacious manicured backyard w a cover patio and privacy fence, perfect for relaxing, and entertaining. This meticulously maintained and move-in ready single-story home features 3 bedrooms, 2 baths, renovated bathrooms, laminated wood floors, new carpet, fresh paint w neutral colors that work beautifully with any decor & an abundance of windows that fill the home with natural sunlight. Easy access to the golf course, parks, minutes away from Hwy 35, George Bush, 121, and DFW International Airport. THIS IS A TRUE GEM!

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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: Northwest Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k361k

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

Neighborhood: Northwest Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262275

* 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
E.l. Kent Elementary School Primary Regular 398 26 9
Charles M. Blalack Middle School Middle Regular 942 60 7
Creekview High School High Regular 1,964 124 7

E.l. Kent Elementary School

  • Education Level: Primary
  • # of students: 398
  • # of teachers: 26
9
GreatSchools Rating

Charles M. Blalack Middle School

  • Education Level: Middle
  • # of students: 942
  • # of teachers: 60
7
GreatSchools Rating

Creekview High School

  • Education Level: High
  • # of students: 1,964
  • # of teachers: 124
7
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,033
Property Tax -$511
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
-$73

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.

$279,900

PROJECTED PRICE

$1,690

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,638

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,7503$1,7504$1,8005$1,849
$1,849
RENT COMPS ANALYSIS
  • 1223 N Slope Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.05
    •  
  • 2919 Sunset Point Lane Carrollton, TX 2
    • 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,653 Sqft ∙ Built 1988
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 1004 Bellflower Court Carrollton, TX 3
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1983
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 2909 Hunters Point Lane Carrollton, TX 4
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1988
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.12
    •  
  • 3105 Landover Drive Carrollton, TX 5
    • 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,640 Sqft ∙ Built 1982
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $1.13
    •  
PROPERTY LISTING DETAILS
Elizabeth Castro
Coldwell Banker Realty Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14442180
Last Updated: 11/07/2020
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