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13600 Greystone Drive Farmers Branch, TX 75244

3 Beds 3 Baths 2,055 sqft Built 2012

$430,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $209.25
  • 8 Days on Market
  • MLS # : 14461035
  • Updated Date : 10/27/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,055 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Michael Group

Listing Agent's Description

Lovely and warm three bedroom two story. Master bedroom on the first floor with walk-in closet and beautiful stand in shower. Two bedrooms upstairs with a study room and separate office. Stacked washer and dryer compartment. Spacious kitchen with direct access to the garage. Plantation shutters throughout the home. Cozy patio with pergola great for entertaining company. Easy access to Dallas North Tollway and LBJ. A short walk to Vetruvian Park. Energy Star Certified!! A perfect starter home!

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: Cambridge Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $116k496k

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

Neighborhood: Cambridge Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262789

* 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
Janie Stark Elementary School Primary Regular 692 40 8
Vivian Field Middle School Middle Regular 971 64 4
R.l. Turner High School High Regular 2,072 136 5

Janie Stark Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 40
8
GreatSchools Rating

Vivian Field Middle School

  • Education Level: Middle
  • # of students: 971
  • # of teachers: 64
4
GreatSchools Rating

R.l. Turner High School

  • Education Level: High
  • # of students: 2,072
  • # of teachers: 136
5
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,587
Property Tax -$941
Property Insurance -$146
HOA -$153
Property Management Fees -$99
CASH FLOW
-$415

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.

$430,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.0%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,507

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,5104$2,5955$2,625
$2,625
RENT COMPS ANALYSIS
  • 13600 Greystone Drive Farmers Branch, TX 3
    • 3 beds 3 baths ∙ 2,055 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,055 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $1.22
    •  
  • 14593 Greenleaf Court Addison, TX 1
    • 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,971 Sqft ∙ Built 1993
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.17
    •  
  • 3777 Meadowcreek Circle Addison, TX 2
    • 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,949 Sqft ∙ Built 1993
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.28
    •  
  • 4001 Sigma Road Farmers Branch, TX 4
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2012
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.18
    •  
  • 4062 Bishop Lane Farmers Branch, TX 5
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2012
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,625
    • $1.25
    •  
PROPERTY LISTING DETAILS
Julie Nguyen
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461035
Last Updated: 10/27/2020
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