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1704 Mayflower Drive Carrollton, TX 75007

3 Beds 2 Baths 1,764 sqft Built 1983

$275,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $155.90
  • 3 Days on Market
  • MLS # : 14490102
  • Updated Date : 01/03/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,764 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

The heart of the home is the centralized living room featuring a gorgeous brick fireplace, vaulted ceiling, wood beam, ceiling fan & French doors to the patio. A wet bar is conveniently located between the living room & family room. Spacious family room also grants access to patio via French doors. The kitchen boasts ample counter & storage space, double basin sink & stainless steel refrigerator. Bright eating nook with chandelier off the kitchen. Formal dining room with tray ceiling & crown molding. Master suite entails double vanity with makeup lighting, double sinks, abundant counter space, vaulted ceiling & tile flooring. Backyard is landscaped with a large grass area.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Dale B. Davis Elementary School Primary Regular 586 31 7
Charles M. Blalack Middle School Middle Regular 942 60 7
Creekview High School High Regular 1,964 124 7

Dale B. Davis Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 31
7
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,015
Property Tax -$502
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
$85

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.

$275,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,887

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8903$1,9054$1,9255$1,995
$1,995
RENT COMPS ANALYSIS
  • 1704 Mayflower Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.04
    •  
  • 1521 Shonka Drive Carrollton, TX 2
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1983
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.08
    •  
  • 1724 Brighton Drive Carrollton, TX 3
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1983
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,905
    • $1.08
    •  
  • 1717 Delaford Drive Carrollton, TX 4
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 1983
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.08
    •  
  • 3638 Amanda Circle Carrollton, TX 5
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 1984
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
PROPERTY LISTING DETAILS
Megan Oh
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490102
Last Updated: 01/03/2021
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