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1224 Normandy Drive Carrollton, TX 75006

5 Beds 3 Baths 3,888 sqft Built 1990

INVESTimate

$465,600

List Price

$2,670

$2,420 - $2,920

Rent Est.

$509,972  ( +9.53%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $119.75
  • 8 Days on Market
  • MLS # : 14382560
  • Updated Date : 08/24/2020 at 18:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,888 sqft
  • Baths : 3 full
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

Gorgeous two story lay out with 5 Bedrooms and 3 baths with the Master upstairs. Come relax on the front porch in this quiet neighborhood. Walk in and see a spacious living area with white pillars to the ceiling and beautiful gas burning fireplace. Newly installed dark wood floors follow you up the stairs into the large master bed and bath. A large pantry and laundry room with sink finish off the downstairs. Turn the gameroom into a retreat for kids on the weekends. The additional space on the first floor is your choice of an office or guestroom. Huge backyard oasis for pets or swing sets. Just minutes walking distance from parks, library, and shopping centers.

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: Savoy of Josey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $122k326k

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

Neighborhood: Savoy of Josey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262176

* 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
R.e. Good Elementary School Primary Regular 592 35 5
Dewitt Perry Middle School Middle Regular 1,049 64 5
Newman Smith High School High Regular 1,973 126 6

R.e. Good Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 35
5
GreatSchools Rating

Dewitt Perry Middle School

  • Education Level: Middle
  • # of students: 1,049
  • # of teachers: 64
5
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$419,040$512,160$465,600

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,718
Property Tax -$1,017
Property Insurance -$252
HOA -$4
Property Management Fees -$99
CASH FLOW
-$420

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.

$465,600

PROJECTED PRICE

$2,670

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.53%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,134

INVESTMENT

$129,134

Down Payment
$116,400
Rehab Estimate
$5,750
Closing Costs
$6,984

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,718

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,400
Loan Amount $349,200
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,657

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,5503$2,6704$2,895
$2,895
RENT COMPS ANALYSIS
  • 1224 Normandy Drive Carrollton, TX 3
    • 5 beds 3 baths ∙ 3,888 Sqft ∙ Built 1990 5 beds 3 baths ∙ 3,888 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.69
    •  
  • 2209 Crater Lake Court Carrollton, TX 1
    • 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 1994
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.66
    •  
  • 2221 Everglade Court Carrollton, TX 2
    • 5 beds 4 baths ∙ 3,846 Sqft ∙ Built 1993 5 beds 4 baths ∙ 3,846 Sqft ∙ Built 1993
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.66
    •  
  • 1303 Bentley Drive Carrollton, TX 4
    • 5 beds 4 baths ∙ 3,963 Sqft ∙ Built 1992 5 beds 4 baths ∙ 3,963 Sqft ∙ Built 1992
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.73
    •  
PROPERTY LISTING DETAILS
Liberty Smith
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14382560
Last Updated: 08/24/2020
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