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1807 Geary Street Garland, TX 75043

3 Beds 2 Baths 1,742 sqft Built 1985

$230,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $132.03
  • 3 Days on Market
  • MLS # : 14527913
  • Updated Date : 03/13/2021 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,742 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST DUE MONDAY 3-15 AT 4:00 PM. Light & bright house with great updates on a huge lot! New kitchen cabinets, stainless steel appliances, granite counters, new flooring throughout most of the house, and all windows upgraded to double pane. The second bathroom has a new tub, sink and cabinet. The roof is less than 5 years old. Fresh plants in the flower beds too! Huge yard with deck is ready for summer barbeques (big enough for a pool & still tons of space leftover). Kids and dogs will love this yard! This home is ready for you!

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: Golden Gate Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Golden Gate Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$799
Property Tax -$541
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
$114

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$18,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,681

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,6954$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 1807 Geary Street Garland, TX 2
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.96
    •  
  • 1912 Lombard Garland, TX 1
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1987
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 3821 Bachman Boulevard Garland, TX 3
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1976
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 1913 Geary Street Garland, TX 4
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 1614 Knob Hill Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1985
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.01
    •  
PROPERTY LISTING DETAILS
Christy Addy
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527913
Last Updated: 03/13/2021
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