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2064 Arbor Creek Drive #A Carrollton, TX 75010

3 Beds 2 Baths 1,419 sqft Built 1985

$260,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $183.23
  • 4 Days on Market
  • MLS # : 14495645
  • Updated Date : 01/07/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,419 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Beautiful Move in Ready Home in a Fantastic Area!!! Surrounded by Great Schools!!! THIS IS A MUST SEE!!!

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: Meadow Ridge - Harvest Run

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Meadow Ridge - Harvest Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$903
Property Tax -$475
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$14

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.

$260,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$13,301

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6753$1,7954$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 2064 Arbor Creek Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.13
    •  
  • 1908 Espinosa Drive Carrollton, TX 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1985
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.19
    •  
  • 1927 Meadowview Court Carrollton, TX 3
    • 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 1990
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.21
    •  
  • 2015 Falcon Ridge Drive Carrollton, TX 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1991
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.19
    •  
  • 1945 Cheyenne Drive Carrollton, TX 5
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1985
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.22
    •  
PROPERTY LISTING DETAILS
Ronald Wilson
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495645
Last Updated: 01/07/2021
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