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

2109 Rheims Drive Carrollton, TX 75006

4 Beds 4 Baths 3,630 sqft Built 1986

INVESTimate

$439,500

List Price

$2,660

$2,410 - $2,910

Rent Est.

$480,681  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $121.07
  • 6 Days on Market
  • MLS # : 14406403
  • Updated Date : 08/24/2020 at 13:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,630 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

It's a good life here at this Carrollton UPDATED BEAUTY! Located on quiet street near beautiful GREENBELT, this fabulous two-story home offers stately decorative brick exterior overlooking a manicured yard. Expansive floor plan presents 3630 SF of remodeled areas. Elegant dining room, farm-style chef's kitchen with breakfast area and half bath, remodeled Master Bedroom and bath.Two bedrooms downstairs can be used for guest rm and office, second-level family or media rm with wet bar, cheery SunRoom, Lg Utility with sink, pantry and potential freezer. Amenities include granite, hardwoods, grand staircase, two fireplaces AND wet bars, custom built-ins and more.Relax and entertain in backyard Pergola patio area!

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: Bel Air of Josey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: Bel Air of Josey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262724

* 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
Country Place Elementary School Primary Regular 327 25 8
Ted Polk Middle School Middle Regular 1,100 64 4
Newman Smith High School High Regular 1,973 126 6

Country Place Elementary School

  • Education Level: Primary
  • # of students: 327
  • # of teachers: 25
8
GreatSchools Rating

Ted Polk Middle School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 64
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$395,550$483,450$439,500

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

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-$10k-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,622
Property Tax -$960
Property Insurance -$237
HOA -$13
Property Management Fees -$99
CASH FLOW
-$270

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.

$439,500

PROJECTED PRICE

$2,660

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,218

INVESTMENT

$122,218

Down Payment
$109,875
Rehab Estimate
$5,750
Closing Costs
$6,593

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,622

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,875
Loan Amount $329,625
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$5,270

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,523

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,6603$2,895
$2,895
RENT COMPS ANALYSIS
  • 2109 Rheims Drive Carrollton, TX 2
    • 4 beds 4 baths ∙ 3,630 Sqft ∙ Built 1986 4 beds 4 baths ∙ 3,630 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.73
    •  
  • 2209 Crater Lake Court Carrollton, TX 1
    • 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 1994
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.66
    •  
  • 1303 Bentley Drive Carrollton, TX 3
    • 5 beds 4 baths ∙ 3,963 Sqft ∙ Built 1992 5 beds 4 baths ∙ 3,963 Sqft ∙ Built 1992
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.73
    •  
PROPERTY LISTING DETAILS
Kim Vastine
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14406403
Last Updated: 08/24/2020
BESbswy