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1524 Adams Drive Carrollton, TX 75010

5 Beds 4 Baths 3,283 sqft Built 2002

INVESTimate

$475,000

List Price

$2,840

$2,590 - $3,090

Rent Est.

$502,122  ( +5.71%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $144.68
  • 5 Days on Market
  • MLS # : 14417425
  • Updated Date : 08/22/2020 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,283 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

AMAZING David Weekly home on over-sized corner lot! Stunning curb appeal with extensive manicured landscaping. Grand entry with vaulted ceiling, formals split to left and right with wood floors, elegant crown and picture frame molding. Neutral paint throughout. Kitchen has an island with gas cooktop and breakfast bar that overlooks spacious living area with built in cabinetry for entertainment equipment, fireplace and stunning palladium window providing natural light. The master BR and a secondary BR are downstairs! Mstr bath with jacuzzi tub, separate shower and dual sink vanity. Large game room and secondary upstairs. The backyard is giant with mature shade trees, storage and a board on board privacy fence!

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: Indian Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k404k

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

Neighborhood: Indian Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262391

* 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
Coyote Ridge Elementary School Primary Regular 614 42 6
Killian Middle School Middle Regular 950 65 7
Hebron High School High Regular 2,458 138 7

Coyote Ridge Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 42
6
GreatSchools Rating

Killian Middle School

  • Education Level: Middle
  • # of students: 950
  • # of teachers: 65
7
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$2,556$3,124$2,840

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$1,753
Property Tax -$867
Property Insurance -$217
HOA -$27
Property Management Fees -$99
CASH FLOW
-$122

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.

$475,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.71%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$17,317

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,889

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8403$2,9504$2,9505$2,975
$2,975
RENT COMPS ANALYSIS
  • 1524 Adams Drive Carrollton, TX 2
    • 5 beds 4 baths ∙ 3,283 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,283 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $0.87
    •  
  • 1625 Thomas Lane Carrollton, TX 1
    • 4 beds 3 baths ∙ 3,132 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,132 Sqft ∙ Built 2002
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.86
    •  
  • 1512 Odell Drive Carrollton, TX 3
    • 4 beds 4 baths ∙ 3,386 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,386 Sqft ∙ Built 2004
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.87
    •  
  • 4637 Stone Oak Drive Carrollton, TX 4
    • 4 beds 4 baths ∙ 3,339 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,339 Sqft ∙ Built 2016
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.88
    •  
  • 1308 Black Hawk Lane Carrollton, TX 5
    • 4 beds 4 baths ∙ 3,272 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,272 Sqft ∙ Built 2015
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kim Davis
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417425
Last Updated: 08/22/2020
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