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1336 Riley Drive Carrollton, TX 75007

3 Beds 3 Baths 1,941 sqft Built 1998

$355,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $182.90
  • 4 Days on Market
  • MLS # : 14525712
  • Updated Date : 03/04/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,941 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Signature Properties

Listing Agent's Description

When they say location, location, location this is the home they were talking about! In the heart of Carrollton just minutes to Hebron Pkwy and 121 sit this beautiful home with so many upgrades. Featuring 3 bedrooms and 2 baths, fresh paint, roof, updated kitchen, completely remodeled bathroom, and engineered wood flooring throughout are just a few to name. Close to parks, golf courses, and a quick commute to DFW airport you will find much to love with this home!

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: 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
Hebron Valley Elementary School Primary Regular 600 38 8
Creek Valley Middle School Middle Regular 795 52 7
Hebron High School High Regular 2,458 138 7

Hebron Valley Elementary School

  • Education Level: Primary
  • # of students: 600
  • # of teachers: 38
8
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
 

$319,500$390,500$355,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,233
Property Tax -$648
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
-$199

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.

$355,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.54%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,233

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,028

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9753$1,9954$1,9995$2,100
$2,100
RENT COMPS ANALYSIS
  • 1336 Riley Drive Carrollton, TX 1
    • 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,941 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.99
    •  
  • 1329 Marken Court Carrollton, TX 2
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1997
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $1.13
    •  
  • 4084 Brazos Drive Carrollton, TX 3
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1993
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 4029 Brazos Drive Carrollton, TX 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1994
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.05
    •  
  • 1516 Ector Drive Carrollton, TX 5
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 1999
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jeff Dowden
Re/max Signature Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525712
Last Updated: 03/04/2021
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