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1405 Knob Hill Drive Garland, TX 75043

3 Beds 2 Baths 1,854 sqft Built 1985

$259,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $139.70
  • 4 Days on Market
  • MLS # : 14508556
  • Updated Date : 01/30/2021 at 10:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

MULTIPLE OFFER RECEIVED-HIGHEST & BEST DUE BY 5:00pm SUNDAY, 1-31. Welcome home to this wonderful single-story home in established neighborhood. Inviting covered porch to enjoy your morning coffee. Lots of character throughout, including skylights, brick accent walls, crown molding, and more! Spacious living room with wood-burning brick fireplace. Kitchen has granite counters, plenty of cabinet and counter space, and stainless steel appliances. Master suite offers en-suite bath with jetted tub, separate shower, dual sinks, and walk-in closet. Enjoy evenings beneath the cabana covered patio overlooking pool with rock waterfall. Board-on-board stained wood fence with steel posts for added privacy.

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: Golden Gate Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Golden Gate Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
Hillside Academy For Excel Primary Magnet 463 29 10
Classical Center At Brandenburg Middle School Middle Magnet 1,158 64 8
Sachse High School High Regular 2,859 159 7

Hillside Academy For Excel

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
10
GreatSchools Rating

Classical Center At Brandenburg Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 64
8
GreatSchools Rating

Sachse High School

  • Education Level: High
  • # of students: 2,859
  • # of teachers: 159
7
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$900
Property Tax -$609
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$28

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$259,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,680

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,784

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7704$1,7755$1,825
$1,825
RENT COMPS ANALYSIS
  • 1405 Knob Hill Drive Garland, TX 3
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.95
    •  
  • 1912 Lombard Garland, TX 1
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1987
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 1913 Geary Street Garland, TX 2
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 1614 Knob Hill Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1985
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.01
    •  
  • 1818 Knob Hill Drive Garland, TX 5
    • 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1992
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.94
    •  
PROPERTY LISTING DETAILS
Patty Turner
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508556
Last Updated: 01/30/2021
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