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1906 Village Creek Drive Garland, TX 75040

3 Beds 2 Baths 1,461 sqft Built 1987

$259,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $177.89
  • 18 Days on Market
  • MLS # : 14455485
  • Updated Date : 10/29/2020 at 12:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,461 sqft
  • Baths : 2 full
Listing Agent

Avignon Realty

Listing Agent's Description

TOTALLY REMODELED! with high-quality updates. All new interior & exterior paint. Brand new windows, screens and interior doors. New recessed lights & new engineered wood floor throughout the house. Brand new soft close cabinets in the kitchen & bathrooms. Spacious & open feeling to this warm cozy home. 1 story, 3 bedrooms, and 2 bathrooms. All brand-new appliances in the kitchen! Both bathrooms completely remodeled! New sinks, cabinets, showers, toilets, and tile. Large family room and dining area. 2 car garage, brand new 8 ft. fence. Located about 3 minutes to George Bush Turnpike.

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: Valley Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $99k282k

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

Neighborhood: Valley Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401772

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$959
Property Tax -$611
Property Insurance -$112
HOA -$25
Property Management Fees -$99
CASH FLOW
-$296

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.

$259,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5104$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1906 Village Creek Drive Garland, TX 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.03
    •  
  • 2901 Caladium Court Garland, TX 1
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1990
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 2305 Norway Garland, TX 2
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1975
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.12
    •  
  • 1537 Shalfont Lane Garland, TX 4
    • 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,538 Sqft ∙ Built 1988
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 2006 Putman Way Garland, TX 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1989
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.22
    •  
PROPERTY LISTING DETAILS
Daniel Skiba
Avignon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455485
Last Updated: 10/29/2020
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