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1505 Palm Valley Drive Garland, TX 75043

4 Beds 3 Baths 3,600 sqft Built 1980

$325,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $90.28
  • 3 Days on Market
  • MLS # : 14477884
  • Updated Date : 11/28/2020 at 12:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homes To Go Realty Services

Listing Agent's Description

Beautifully updated 4 bedroom two and a half bath in established neighborhood Amazing floor plan near 635! Wood floors, wall sconces, tons of natural light & plantation shutters throughout. Renovated kitchen w- slab granite, tile backsplash, double oven, stainless steel built-ins & lots of cabinets. Huge master bedroom w- large walk-in closet, separate vanites, tub & separate shower. Family room has wall of windows. So much room upstairs w- 2nd master. Priced to sale. Only large house in Garland With $$. Not going to find sf and updates anywhere for price; Entertain or relax in gorgeous backyard w- covered patio; fence line extends beyond existing fence; lot is 80 x 150 in actual size;

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: Club Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k290k

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

Neighborhood: Club Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9402086

* 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,199
Property Tax -$764
Property Insurance -$235
Property Management Fees -$99
CASH FLOW
-$287

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.

$325,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $2,220

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0103$2,2004$2,380
$2,380
RENT COMPS ANALYSIS
  • 1505 Palm Valley Drive Garland, TX 2
    • 4 beds 3 baths ∙ 3,600 Sqft ∙ Built 1980 4 beds 3 baths ∙ 3,600 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.56
    •  
  • 2713 University Drive Rowlett, TX 1
    • 4 beds 4 baths ∙ 3,659 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,659 Sqft ∙ Built 2000
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.55
    •  
  • 4730 Parkhaven Drive Garland, TX 3
    • 4 beds 4 baths ∙ 3,819 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,819 Sqft ∙ Built 1996
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.58
    •  
  • 13 Winding Creek Trail Garland, TX 4
    • 3 beds 3 baths ∙ 3,311 Sqft ∙ Built 1987 3 beds 3 baths ∙ 3,311 Sqft ∙ Built 1987
    property image
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.72
    •  
PROPERTY LISTING DETAILS
Kim Walker
Homes To Go Realty Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477884
Last Updated: 11/28/2020
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