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2031 Arbor Creek Drive Carrollton, TX 75010

4 Beds 4 Baths 2,730 sqft Built 1991

$374,900

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $137.33
  • 3 Days on Market
  • MLS # : 14503202
  • Updated Date : 01/30/2021 at 10:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,730 sqft
  • Baths : 3 full , 1 half
Listing Agent

Door Texas Realty, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! Best and Final Deadline set for 1.31.21 at 5:00 pm. Welcome to this 4 bed, 3.5 bath home in Diamond Ridge! Gorgeous hardwood floors downstairs, including a front formal living and formal dining. Spacious family room has lots of natural light, fireplace, and built-ins, and is open to the kitchen featuring a breakfast bar and an island with cooktop! You'll love the downstairs master with bay window and en-suite bath showcasing dual sinks, separate tub, and custom tile work. Don't miss the large upstairs living area, as well as 3 more bedrooms and 2 baths, one with dual sinks! The backyard oasis includes an extensive deck with pergola, new outdoor kitchen, and waterfall feature!

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: Northeast Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Neighborhood: Northeast Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10862171

* 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
Indian Creek Elementary School Primary Regular 631 39 7
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Indian Creek Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 39
7
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
 

$337,410$412,390$374,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,302
Property Tax -$684
Property Insurance -$185
Property Management Fees -$99
CASH FLOW
-$10

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.

$374,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,341

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2003$2,2604$2,2995$2,300
$2,300
RENT COMPS ANALYSIS
  • 2031 Arbor Creek Drive Carrollton, TX 3
    • 4 beds 4 baths ∙ 2,730 Sqft ∙ Built 1991 4 beds 4 baths ∙ 2,730 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.83
    •  
  • 4205 Sagemont Drive Carrollton, TX 1
    • 3 beds 3 baths ∙ 2,494 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,494 Sqft ∙ Built 1986
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.87
    •  
  • 1900 Kensington Drive Carrollton, TX 2
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1978
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 2057 Arbor Creek Drive Carrollton, TX 4
    • 5 beds 4 baths ∙ 2,894 Sqft ∙ Built 1998 5 beds 4 baths ∙ 2,894 Sqft ∙ Built 1998
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.79
    •  
  • 1919 E Branch Hollow Drive Carrollton, TX 5
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1979
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
PROPERTY LISTING DETAILS
Paul Leddy
Door Texas Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503202
Last Updated: 01/30/2021
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