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1602 Fairwind Court Carrollton, TX 75007

3 Beds 3 Baths 2,030 sqft Built 1982

INVESTimate

$335,000

List Price

$1,880

$1,692 - $2,068

Rent Est.

$363,140  ( +8.40%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $165.02
  • 6 Days on Market
  • MLS # : 14416882
  • Updated Date : 08/24/2020 at 09:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,030 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Beautiful Updated Custom in Rosemeade. You must see to appreciate. Over 75k in updates. List in supplements. Updates include HVAC with air purifier, furnace, including duct work, blown in insulation, under mount sinks in Baths with granite tops. 30 year roof with ridge vents and new gutters. 8' board on board fence, RV parking with 30 amp electric. Carport and additional driveway parking spot. Hot tub, shed with electric and metal roll up door. Double pane windows and sliding doors. New front door and updated dining room chandelier. 1000 sq. ft. stamped concrete patio. Italian Tile in entry, kitchen, dining, half bath, master bath and second living area. No Popcorn, newly repainted interior.

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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,692$2,068$1,880

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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 $1,880
EXPENSES Loan Payment -$1,236
Property Tax -$612
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$211

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.

$335,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.56%

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,939

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,880
1$1,8802$1,9003$1,9004$1,9755$1,975
$1,975
RENT COMPS ANALYSIS
  • 1602 Fairwind Court Carrollton, TX 1
    • 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,030 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.93
    •  
  • 1621 Concord Drive Carrollton, TX 2
    • 4 beds 2 baths ∙ 1,995 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,995 Sqft ∙ Built 1984
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 1514 E Silverleaf Drive Carrollton, TX 3
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 1983
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 1509 Silverleaf Drive Carrollton, TX 4
    • 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,021 Sqft ∙ Built 1983
    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
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.97
    •  
PROPERTY LISTING DETAILS
Steve Conner
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416882
Last Updated: 08/24/2020
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