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2137 Hunters Ridge Carrollton, TX 75006

4 Beds 2 Baths 2,034 sqft Built 1980

$312,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $153.39
  • 3 Days on Market
  • MLS # : 14470725
  • Updated Date : 11/14/2020 at 20:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,034 sqft
  • Baths : 2 full
Listing Agent

Weichert Realtors - The Harrell Group

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. Deadline set for 5:30 pm Sunday, Nov. 15th. Stunning, cul de sac beauty! This 4 bed, 2 full bath home is updated with a modern flair. The extensive list of upgrades include: HVAC condenser unit replaced in 2020, Hot water heater 2020, quartz counters and tile flooring in both baths 2020, Full kitchen remodel completed in 2018, shaker style cabinetry, stainless steel appliances, quartz countertops, deep sink, custom tile flooring, and custom lighting. Luxurious, neutral carpet in bedrooms installed in 2019, garage door spring 2020, garage door opener 2018, interior recently painted, bamboo flooring 2014. Within walking distance to Mary Heads Carter Park! Carrollton - Farmers Branch ISD.

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: Mill Valley

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Mill Valley

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
L.f. Blanton Elementary School Primary Regular 555 35 6
Ted Polk Middle School Middle Regular 1,100 64 4
Newman Smith High School High Regular 1,973 126 6

L.f. Blanton Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 35
6
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
 

$280,800$343,200$312,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,151
Property Tax -$682
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$26

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.

$312,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$14,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,044

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,8504$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 2137 Hunters Ridge Carrollton, TX 4
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.01
    •  
  • 2019 Springwood Place Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1980
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 2222 Heads Lane Carrollton, TX 2
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1997
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 2513 Melissa Lane Carrollton, TX 3
    • 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 1983
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 2305 Incline Drive Carrollton, TX 5
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1981
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
PROPERTY LISTING DETAILS
Kristi Baxter
Weichert Realtors - The Harrell Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470725
Last Updated: 11/14/2020
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