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2159 Falcon Ridge Drive Carrollton, TX 75010

3 Beds 2 Baths 1,331 sqft Built 1985

$245,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $184.07
  • 2 Days on Market
  • MLS # : 14469366
  • Updated Date : 11/15/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,331 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Vaulted ceiling invites you into open floorplan at front door! Two Master Closets!! Built-ins throughout. Easy zeroscape areas along side yard lead to quiet backyard (open space for playtime, furniture, or raised garden beds). Sidewalks all throughout neighborhood also lead to Heritage Park, safe .3 mi walk for all ages! Immaculate Lennox HVAC and gas water heater in separate garage closets for easy maintenance. Location perks: Easy commute routes (3mi to SRT, 3mi to DNT, 4mi to PGBT); 1mi to grocery stores, hospitals, and library; 2mi to USPS; close to varied city and private sports facilities; nature preserve; retail and restaurants galore; diverse options for places of worship; award-winning Lewisville 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: 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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$904
Property Tax -$447
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
$86

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.

$245,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.67%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$22,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6403$1,7004$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 2159 Falcon Ridge Drive Carrollton, TX 2
    • 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.23
    •  
  • 2066 Arbor Creek Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 1986
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.22
    •  
  • 2005 Espinosa Drive Carrollton, TX 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1985
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.26
    •  
  • 4325 Harvest Hill Road Carrollton, TX 4
    • 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,462 Sqft ∙ Built 1985
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.23
    •  
  • 2221 Arbor Creek Drive Carrollton, TX 5
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1995
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.23
    •  
PROPERTY LISTING DETAILS
Jennifer Dahlman
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469366
Last Updated: 11/15/2020
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