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1406 Carriage Lane Savannah, TX 76227

4 Beds 2 Baths 2,169 sqft Built 2005

INVESTimate

$269,900

List Price

$1,780

$1,602 - $1,958

Rent Est.

$290,035  ( +7.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $124.44
  • 6 Days on Market
  • MLS # : 14415554
  • Updated Date : 08/21/2020 at 19:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,169 sqft
  • Baths : 2 full
Listing Agent

2415 Realty

Listing Agent's Description

Do not miss your opportunity to own this beautiful Cape Cod style dream home! With a completely open floor plan on a corner lot, this house has it all! New flooring throughout, new appliances, new HVAC and new roof and gutters! Every bedroom is oversized and the 4th bedroom can double as an office or playroom. The community pool has a huge waterslide and there is even a pond with a paddleboat! This is the perfect family home and won’t last long!

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: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Savannah

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Billy Ryan High School High Regular 2,409 170 5

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$996
Property Tax -$614
Property Insurance -$153
HOA -$71
Property Management Fees -$99
CASH FLOW
-$152

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.

$269,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.46%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,892

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,780
1$1,7802$1,7953$1,9004$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1406 Carriage Lane Savannah, TX 1
    • 4 beds 2 baths ∙ 2,169 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,169 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.82
    •  
  • 1013 Haley Court Savannah, TX 2
    • 4 beds 2 baths ∙ 2,053 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,053 Sqft ∙ Built 2008
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 1224 Hayden Lane Savannah, TX 3
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 1429 Carriage Lane Savannah, TX 4
    • 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2004
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 1225 Caudle Lane Savannah, TX 5
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2008
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cassie Weisman
2415 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415554
Last Updated: 08/21/2020
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