Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1625 Nicole Lane Garland, TX 75040

4 Beds 3 Baths 2,584 sqft Built 1999

$309,700

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $119.85
  • 4 Days on Market
  • MLS # : 14524558
  • Updated Date : 03/18/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,584 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Backed to Rowlett Creek and Preserve, enjoy your private backyard with mature trees, from your covered patio. Walk out your back gate to 14 miles of biking trails. Living area and Owners Suite have large windows allowing you a view of the creek all year long. The first floor Owners Suite is large and the bath offers a garden tub separate shower with new frameless glass and walk-in closet. Plenty of storage with each bedroom having it's own walk-in closet. Home has been updated with fresh paint, new carpet, granite countertop, and more. Located close to 190 for an easy commute, Firewheel Mall and restaurants for your entertainment. These homes are seldom available and this one will go quickly.

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: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Northlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8821734

* 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
 

$278,730$340,670$309,700

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 -$1,076
Property Tax -$728
Property Insurance -$177
HOA -$20
Property Management Fees -$99
CASH FLOW
-$90

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.

$309,700

PROJECTED PRICE

$2,010

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.8%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,821

INVESTMENT

$87,821

Down Payment
$77,425
Rehab Estimate
$5,750
Closing Costs
$4,646

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,425
Loan Amount $232,275
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,179

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
  • $0.78

    LIST RENT PER SQFT
  • $2,158

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0003$2,0104$2,2005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1625 Nicole Lane Garland, TX 3
    • 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,584 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.78
    •  
  • 2237 Country Hollow Lane Garland, TX 1
    • 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1993
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.77
    •  
  • 102 Somerset Drive Garland, TX 2
    • 4 beds 2 baths ∙ 2,716 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,716 Sqft ∙ Built 1995
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.74
    •  
  • 3118 Grand Bay Drive Garland, TX 4
    • 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,455 Sqft ∙ Built 2017
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 1528 Cypress Garden Lane Garland, TX 5
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2016
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.93
    •  
PROPERTY LISTING DETAILS
Cindy Bryant
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524558
Last Updated: 03/18/2021
BESbswy