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1337 Mae Drive Carrollton, TX 75007

3 Beds 3 Baths 1,754 sqft Built 1998

$215,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $122.58
  • 1 Days on Market
  • MLS # : 14474929
  • Updated Date : 11/21/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

Scott Neal Real Estate

Listing Agent's Description

Great Investment opportunity for someone looking in Carrollton. Home needs some TLC and is Sold As is. Inspection has been completed for the potential buyer. Nestled on a shaded tree lot this home has alot of potential. Spacious family room with vaulted ceilings, gas fireplace, and a half bath. The second living room up gives you options for a game room or second living area. Spacious Owners Retreat with room for a sitting area, tall ceilings, double sinks, garden tub separate shower, and a large walk in closet. 2 additional bedrooms up with another full bath. Come ready to get creative and make this home yours!

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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$793
Property Tax -$467
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$322

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.

$215,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.84%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$44,660

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8103$1,8504$1,9995$2,000
$2,000
RENT COMPS ANALYSIS
  • 1337 Mae Drive Carrollton, TX 2
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.03
    •  
  • 1306 Indian Lake Trail Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1993
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
  • 1308 Riley Drive Carrollton, TX 3
    • 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,658 Sqft ∙ Built 1998
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.12
    •  
  • 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
    •  
  • 1305 Indian Lake Trail Carrollton, TX 5
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 1995
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.10
    •  
PROPERTY LISTING DETAILS
Scott Neal
Scott Neal Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474929
Last Updated: 11/21/2020
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