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1509 E Peters Colony Road Carrollton, TX 75007

3 Beds 2 Baths 1,865 sqft Built 1983

INVESTimate

$299,000

List Price

$1,800

$1,620 - $1,980

Rent Est.

$324,116  ( +8.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $160.32
  • 6 Days on Market
  • MLS # : 14417566
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,865 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Ranch style beauty, 3 bedroom 2 baths in a quiet and friendly neighborhood. Wood floors and fresh paint throughout the home, kitchen cabinets have been freshly painted, master and guest bathroom has been fully updated. Kitchen has a breakfast area & breakfast bar, granite countertops, tons of cabinet space. Large master bedroom and bathroom.Spacious living room with gas log fireplace. Large backyard which can be made into your perfect backyard oasis. Plenty of room for a pool and outdoor living. Close to community trails for biking, running, or walking.Convenient to shopping. Easy access to the highway & toll roads for an easy commute.Great school district. Open house Sunday 1-3pm.Don't miss it!

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: North Central Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: North Central Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11112171

* 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
Rosemeade Elementary School Primary Regular 444 26 9
Charles M. Blalack Middle School Middle Regular 942 60 7
Creekview High School High Regular 1,964 124 7

Rosemeade Elementary School

  • Education Level: Primary
  • # of students: 444
  • # 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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,103
Property Tax -$546
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
-$83

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.

$299,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.40%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,842

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7753$1,8004$1,9755$1,975
$1,975
RENT COMPS ANALYSIS
  • 1509 E Peters Colony Road Carrollton, TX 3
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 3112 Mayfair Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1983
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.02
    •  
  • 3121 Fairgate Drive Carrollton, TX 2
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1983
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.98
    •  
  • 1509 Silverleaf Drive Carrollton, TX 4
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 1983
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.98
    •  
  • 3102 Sugarbush Lane Carrollton, TX 5
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1983
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.97
    •  
PROPERTY LISTING DETAILS
Beth Caudill
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417566
Last Updated: 08/21/2020
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