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2124 Larkspur Drive Carrollton, TX 75010

3 Beds 3 Baths 2,436 sqft Built 1987

$365,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $149.84
  • 3 Days on Market
  • MLS # : 14518937
  • Updated Date : 02/27/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,436 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Windows GALORE! Tall ceilings! Large Open Spaces - let's all stay home! The primary suite is downstairs with secondary bedrooms up. The kitchen has TONS of light AND a fireplace! The second living area upstairs is perfect for homeschooling, an office, game room, etc. Upgrades include beautiful new staircase balusters, designer lighting, new ceramic tile, carpet, and fresh paint. New AC in 2018 and roof in 2017! A gorgeous Red Oak tree shades the flagstone patio in the back yard --perfect for relaxing or entertaining. Just the right sz backyard. Live Oak in the front is taller than the HOUSE! Beautiful Landscaping! Only a qtr-mile walk to Harvest Run Park! Plenty of restaurants, shopping, 20 min to DFW airport!

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: 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
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,268
Property Tax -$666
Property Insurance -$168
Property Management Fees -$99
CASH FLOW
$99

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.

$365,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.63%

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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$24,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,314

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0753$2,3004$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 2124 Larkspur Drive Carrollton, TX 4
    • 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 1987 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
  • 2240 Arbor Creek Drive Carrollton, TX 1
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1986
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 2108 Fawn Ridge Trail Carrollton, TX 2
    • 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 1985
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.92
    •  
  • 4320 Mesa Drive Carrollton, TX 3
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1999
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 2111 Clearwater Trail Carrollton, TX 5
    • 3 beds 3 baths ∙ 2,271 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,271 Sqft ∙ Built 1988
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.03
    •  
PROPERTY LISTING DETAILS
Gina Teague
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518937
Last Updated: 02/27/2021
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