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2124 Meadowview Court Garland, TX 75043

3 Beds 2 Baths 2,230 sqft Built 1982

INVESTimate

$274,900

List Price

$1,940

$1,746 - $2,134

Rent Est.

$303,902  ( +10.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $123.27
  • 5 Days on Market
  • MLS # : 14418970
  • Updated Date : 08/22/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,230 sqft
  • Baths : 2 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Beautiful home in a charming Cul-de-Sac, positioned on a large corner lot, in an established neighborhood, near the lake! Dine in the formal room or breakfast nook. 3 bed 2 bath with a large master that includes separate vanities and walk in closets. Vaulted ceilings, large living area, game room, and wet bar. Big back yard with a half court and basketball goal. sprinkler system. Close proximity to George Bush and Firewheel.

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: West Shore Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k274k

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

Neighborhood: West Shore Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9401888

* 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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,014
Property Tax -$646
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
$24

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.

$274,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$16,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,951

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,8954$1,9405$2,195
$2,195
RENT COMPS ANALYSIS
  • 2124 Meadowview Court Garland, TX 4
    • 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.87
    •  
  • 2817 Harpers Ferry Garland, TX 1
    • 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,086 Sqft ∙ Built 1981
    property image
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.83
    •  
  • 1018 Seminary Ridge Garland, TX 2
    • 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,042 Sqft ∙ Built 1985
    property image
    LEASED 07/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.86
    •  
  • 3001 Jeremes Landing Garland, TX 3
    • 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 1985
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 2116 Meadowview Court Garland, TX 5
    • 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 1983
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.93
    •  
PROPERTY LISTING DETAILS
Adam Caskey
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418970
Last Updated: 08/22/2020
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