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2114 Glen Heights Drive Garland, TX 75044

3 Beds 3 Baths 1,904 sqft Built 1991

$289,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $151.79
  • 4 Days on Market
  • MLS # : 14478366
  • Updated Date : 12/03/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesmart Stars

Listing Agent's Description

Welcome home to this beautiful newly remodeled home. This charming home offers an open floor plan with a high ceiling and tall windows in the main living room let in a lot of natural light, second living area with custom built-ins perfect for a study. New windows, newer roof, and complete renovations in all areas.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Holford

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Holford

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9081734

* 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
 

$260,100$317,900$289,000

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 -$1,066
Property Tax -$679
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
-$382

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.

$289,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$49

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
  • $0.84

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7503$1,7504$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 2114 Glen Heights Drive Garland, TX 1
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 2325 Knighthood Lane Garland, TX 2
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1988
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 2813 Chariot Lane Garland, TX 3
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1975
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 2329 Lancecrest Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1987
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 2326 Bent Bow Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1987
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jenny Dang
Homesmart Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478366
Last Updated: 12/03/2020
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