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1326 Greenbriar Lane Lancaster, TX 75146

3 Beds 2 Baths 1,839 sqft Built 1983

$194,500

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $105.76
  • 5 Days on Market
  • MLS # : 14499413
  • Updated Date : 01/14/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,839 sqft
  • Baths : 2 full
Listing Agent

Mccormick Realty Services Llc

Listing Agent's Description

A must see and priced to sell. Great curb appeal. Home features open concept with a nice floor plan. The garage conversion is very nicely done and can be easily converted back if desirable. This room is currently being used as a 2nd living area-mancave-den. Both bathrooms have been updated with ceramic title and granite countertop in master with double sinks. Large eat-in kitchen features a moveable island to allow for flexible dining. Seller will consider a flooring allowance with a reasonable offer. Refrigerator and washer-dryer are negotiable. Large back yard; covered patio; & with rear entry garage conversion.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k243k

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

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8751734

* 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
Belt Line Elementary School Primary Regular 572 35 4
Elsie Robertson Middle School Middle Regular 990 64 6
Lancaster High School High Regular 1,841 109 3

Belt Line Elementary School

  • Education Level: Primary
  • # of students: 572
  • # of teachers: 35
4
GreatSchools Rating

Elsie Robertson Middle School

  • Education Level: Middle
  • # of students: 990
  • # of teachers: 64
6
GreatSchools Rating

Lancaster High School

  • Education Level: High
  • # of students: 1,841
  • # of teachers: 109
3
GreatSchools Rating
 

$175,050$213,950$194,500

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$676
Property Tax -$495
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
$227

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.

$194,500

PROJECTED PRICE

$1,630

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$57,293

INVESTMENT

$57,293

Down Payment
$48,625
Rehab Estimate
$5,750
Closing Costs
$2,918

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$676

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,625
Loan Amount $145,875
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$26,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5453$1,5954$1,6305$1,649
$1,649
RENT COMPS ANALYSIS
  • 1326 Greenbriar Lane Lancaster, TX 4
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.89
    •  
  • 1226 Southridge Drive Lancaster, TX 1
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 1983
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 1313 Southridge Drive Lancaster, TX 2
    • 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,781 Sqft ∙ Built 1984
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.87
    •  
  • 1105 Meadow Creek Drive Lancaster, TX 3
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1986
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 1113 Rosewood Lane Lancaster, TX 5
    • 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,782 Sqft ∙ Built 1987
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.93
    •  
PROPERTY LISTING DETAILS
Debra Mccormick
Mccormick Realty Services Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499413
Last Updated: 01/14/2021
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