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

2038 Oak Creek Court Garland, TX 75040

3 Beds 2 Baths 1,793 sqft Built 1988

$250,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $139.43
  • 1 Days on Market
  • MLS # : 14485673
  • Updated Date : 12/19/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,793 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Great corner lot home located in desirable area of Garland with 3 bedrooms and 2 baths. Home provides open concept with high ceilings and spacious kitchen perfect for spending time with family and friends. Backyard has grassy area and pergola perfect for the warmer months with newer fence. Beautiful laminate and tile flooring throughout with zero carpet. Come check this home out as it won't last too long.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$922
Property Tax -$588
Property Insurance -$131
HOA -$20
Property Management Fees -$99
CASH FLOW
-$50

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.

$250,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.68%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7104$1,7905$1,850
$1,850
RENT COMPS ANALYSIS
  • 2038 Oak Creek Court Garland, TX 3
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.95
    •  
  • 3005 Pecan Meadow Drive Garland, TX 1
    • 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 1996
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 2602 Lake Valley Drive Garland, TX 2
    • 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1986
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 2906 Pecan Meadow Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 1994
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.98
    •  
  • 3009 Alyssum Court Garland, TX 5
    • 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,916 Sqft ∙ Built 1993
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
PROPERTY LISTING DETAILS
Cindy Joseph
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485673
Last Updated: 12/19/2020
BESbswy