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1857 Mcclary Street Garland, TX 75040

4 Beds 4 Baths 3,507 sqft Built 2013

$510,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $145.42
  • 3 Days on Market
  • MLS # : 14518240
  • Updated Date : 02/12/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,507 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lone Star Realty Group, Llc

Listing Agent's Description

Beautiful Grand Home in convenient location with open family room, home office and master suite downstairs. Second living room, media room, 3 bedrooms plus 2 bathrooms upstairs. Hardwood floors through main areas downstairs. Wrought iron staircase railings. Gourmet kitchen with granite countertop, kitchen island and stainless steel appliances. Home is barely lived in due to family frequently out of the country for business.

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: Enclave of Emerald Forest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $99k363k

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

Neighborhood: Enclave of Emerald Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9402415

* 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
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,771
Property Tax -$1,199
Property Insurance -$230
HOA -$66
Property Management Fees -$99
CASH FLOW
-$735

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.

$510,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,867

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,630
1$2,6302$2,6603$2,8504$2,9005$3,375
$3,375
RENT COMPS ANALYSIS
  • 1857 Mcclary Street Garland, TX 1
    • 4 beds 4 baths ∙ 3,507 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,507 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.75
    •  
  • 7007 Canyon Meadow Drive Sachse, TX 2
    • 5 beds 4 baths ∙ 3,327 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,327 Sqft ∙ Built 2007
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.80
    •  
  • 5712 Eaglebend Drive Richardson, TX 3
    • 5 beds 5 baths ∙ 3,430 Sqft ∙ Built 2000 5 beds 5 baths ∙ 3,430 Sqft ∙ Built 2000
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.83
    •  
  • 2510 Sandi Lane Sachse, TX 4
    • 5 beds 4 baths ∙ 3,830 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,830 Sqft ∙ Built 2006
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.76
    •  
  • 1122 Means Farm Road Garland, TX 5
    • 4 beds 4 baths ∙ 3,857 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,857 Sqft ∙ Built 2008
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,375
    • $0.88
    •  
PROPERTY LISTING DETAILS
Don Nguyen
Lone Star Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518240
Last Updated: 02/12/2021
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