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

2018 Stein Way Carrollton, TX 75007

3 Beds 2 Baths 1,612 sqft Built 1984

$290,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $179.90
  • 2 Days on Market
  • MLS # : 14490787
  • Updated Date : 12/26/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,612 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Central

Listing Agent's Description

Freshly updated 3 bedroom 2 bath home with loft! Kitchen has upgraded stainless appliances, 5 burner gas range, butcher block counters. Vinyl plank flooring throughout, for a seamless look. Master bedroom with French doors leading out to covered patio. Master bath has oversized walk in shower with frameless door, solid surface counters large walk in closet. Secondary bedrms with large closets. Loft area perfect for home office, or playroom. HVAC, water heater, replacement windows. Foundation with lifetime warranty. Large fenced back yard, extended patio, detached over sized garage

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: Carillon Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $111k336k

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

Neighborhood: Carillon Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10202171

* 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
Homestead Elementary School Primary Regular 597 42 8
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Homestead Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 42
8
GreatSchools Rating

Arbor Creek Middle School

  • Education Level: Middle
  • # of students: 894
  • # of teachers: 59
8
GreatSchools Rating

Hebron High School

  • Education Level: High
  • # of students: 2,458
  • # of teachers: 138
7
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,070
Property Tax -$529
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
-$39

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.

$290,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.6%
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-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$13,793

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,649
1$1,6492$1,6503$1,7804$1,8005$1,825
$1,825
RENT COMPS ANALYSIS
  • 2018 Stein Way Carrollton, TX 3
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.10
    •  
  • 3713 Clover Hill Lane Carrollton, TX 1
    • 3 beds 3 baths ∙ 1,491 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,491 Sqft ∙ Built 1982
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $1.11
    •  
  • 2103 Stein Way Carrollton, TX 2
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1983
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 2016 Sancerre Lane Carrollton, TX 4
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1983
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.12
    •  
  • 2108 Rose Cliff Lane Carrollton, TX 5
    • 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,641 Sqft ∙ Built 1983
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.11
    •  
PROPERTY LISTING DETAILS
Anne Kirkman
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490787
Last Updated: 12/26/2020
BESbswy