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1430 Charlotte Way Carrollton, TX 75007

4 Beds 3 Baths 2,848 sqft Built 1990

INVESTimate

$449,000

List Price

$2,240

$2,016 - $2,464

Rent Est.

$478,050  ( +6.47%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $157.65
  • 6 Days on Market
  • MLS # : 14416264
  • Updated Date : 08/25/2020 at 12:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,848 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allie Beth Allman & Assoc.

Listing Agent's Description

NEW LISTING! Pristine 4 bed in desired Kent elementary with many custom upgrades and finish out. Master down with large game + 3 bedrooms up. 3 inch white plantation shutters through out, wood floors, quartz counter tops, remodeled master bath, 2018 roof w warranty, French drains and so much more. Separate office, large laundry, light and bright throughout and meticulously maintained. Gorgeous fully landscaped back yard with custom pergola and plenty of room for pool. Fantastic block and location w awesome neighbors!

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: Timbercreek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k363k

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

Neighborhood: Timbercreek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262333

* 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
E.l. Kent Elementary School Primary Regular 398 26 9
Charles M. Blalack Middle School Middle Regular 942 60 7
Creekview High School High Regular 1,964 124 7

E.l. Kent Elementary School

  • Education Level: Primary
  • # of students: 398
  • # of teachers: 26
9
GreatSchools Rating

Charles M. Blalack Middle School

  • Education Level: Middle
  • # of students: 942
  • # of teachers: 60
7
GreatSchools Rating

Creekview High School

  • Education Level: High
  • # of students: 1,964
  • # of teachers: 124
7
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,657
Property Tax -$820
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$527

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.

$449,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.47%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,421

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,2503$2,2504$2,5005$2,599
$2,599
RENT COMPS ANALYSIS
  • 1430 Charlotte Way Carrollton, TX 1
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.79
    •  
  • 3404 Meadow Cove Drive Carrollton, TX 2
    • 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 1998
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 1008 Janus Drive Carrollton, TX 3
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1994
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 1400 Indian Springs Carrollton, TX 4
    • 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 1993
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 3528 Cimarron Drive Carrollton, TX 5
    • 4 beds 4 baths ∙ 2,830 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,830 Sqft ∙ Built 2000
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,599
    • $0.92
    •  
PROPERTY LISTING DETAILS
Clarke Landry
Allie Beth Allman & Assoc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416264
Last Updated: 08/25/2020
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