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1516 Jackson Street Carrollton, TX 75006

3 Beds 3 Baths 2,603 sqft Built 2020

INVESTimate

$448,542

List Price

$2,230

$2,007 - $2,453

Rent Est.

$493,710  ( +10.07%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $172.32
  • 6 Days on Market
  • MLS # : 14418265
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,603 sqft
  • Baths : 2 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

Homeowners will enjoy the craftsmanship and elegance in the Culpepper plan. This plan offers tons of natural light with soaring ceilings and lots of windows. Relax every evening in your luxurious bedroom as its perfectly situated away from the secondary beds. The spa-like master bath has his & her vanities, oversized tub and separate 5' showers. Stunning gourmet kitchen with modern appliances overlooks the family and dining. TONS of storage space included in this spectacular Culpepper Plan. Stylish interior design details, energy-efficient windows are all included in this new David Weekley Home and this EnergySaver™ home features a 1-2-10 Year Warranty for your peace of mind.

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: Downtown Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $85k289k

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

Neighborhood: Downtown Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9031945

* 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
R.e. Good Elementary School Primary Regular 592 35 5
Dewitt Perry Middle School Middle Regular 1,049 64 5
Newman Smith High School High Regular 1,973 126 6

R.e. Good Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 35
5
GreatSchools Rating

Dewitt Perry Middle School

  • Education Level: Middle
  • # of students: 1,049
  • # of teachers: 64
5
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$403,688$493,396$448,542

PURCHASE PRICE

$2,007$2,453$2,230

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,655
Property Tax -$980
Property Insurance -$178
HOA -$67
Property Management Fees -$99
CASH FLOW
-$748

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$448,542

PROJECTED PRICE

$2,230

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.07%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,864

INVESTMENT

$120,864

Down Payment
$112,136
Rehab Estimate
$2,000
Closing Costs
$6,728

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,655

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,136
Loan Amount $336,407
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,282

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2303$2,2504$2,450
$2,450
RENT COMPS ANALYSIS
  • 1516 Jackson Street Carrollton, TX 2
    • 3 beds 3 baths ∙ 2,603 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,603 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.86
    •  
  • 1044 Alyssa Lane Carrollton, TX 1
    • 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2005
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 2316 Janna Way Carrollton, TX 3
    • 4 beds 4 baths ∙ 2,530 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,530 Sqft ∙ Built 2013
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
  • 2308 Janna Way Carrollton, TX 4
    • 3 beds 3 baths ∙ 2,604 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,604 Sqft ∙ Built 2009
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418265
Last Updated: 08/22/2020
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