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1229 Apache Lake Drive Carrollton, TX 75010

5 Beds 3 Baths 2,888 sqft Built 2003

$470,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $162.74
  • 3 Days on Market
  • MLS # : 14471150
  • Updated Date : 11/13/2020 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,888 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rogers Healy And Associates

Listing Agent's Description

Your backyard oasis awaits! This beautiful 5 bedroom home has everything you need for the perfect staycation! A gorgeous saltwater pool with fountains and an attached spa, combined with the outdoor kitchen, built in grill, custom built wood covered patio and landscaped backyard are everything you could want in a backyard. A 2 car garage with a custom gated driveway provides perfect space for a boat and extra off street parking. Vaulted ceilings, granite countertops, stainless steel appliances, hand scraped wood floors, new 2020 AC condenser unit, 2019 roof all combine to create a beautiful home! Enjoy your new neighborhood that features walking and biking trails and 2 private ponds, right down the street.

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: Indian Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k404k

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

Neighborhood: Indian Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262391

* 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
Coyote Ridge Elementary School Primary Regular 614 42 6
Creek Valley Middle School Middle Regular 795 52 7
Hebron High School High Regular 2,458 138 7

Coyote Ridge Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 42
6
GreatSchools Rating

Creek Valley Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 52
7
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$423,000$517,000$470,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,734
Property Tax -$858
Property Insurance -$194
HOA -$46
Property Management Fees -$99
CASH FLOW
-$361

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.

$470,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,982

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,708

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,570
1$2,5702$2,7503$2,7504$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 1229 Apache Lake Drive Carrollton, TX 1
    • 5 beds 3 baths ∙ 2,888 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,888 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.89
    •  
  • 4413 Ramona Street Carrollton, TX 2
    • 5 beds 3 baths ∙ 2,984 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,984 Sqft ∙ Built 2002
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.92
    •  
  • 1008 Chickasaw Drive Carrollton, TX 3
    • 4 beds 4 baths ∙ 2,822 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,822 Sqft ∙ Built 2012
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.97
    •  
  • 3952 Legacy Trail Carrollton, TX 4
    • 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,951 Sqft ∙ Built 2000
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.95
    •  
  • 1309 Sioux Street Carrollton, TX 5
    • 4 beds 3 baths ∙ 3,068 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,068 Sqft ∙ Built 2014
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kendal Cook
Rogers Healy And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471150
Last Updated: 11/13/2020
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