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2201 Hickey Drive Garland, TX 75043

4 Beds 4 Baths 3,309 sqft Built 2020

$476,334

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $143.95
  • 6 Days on Market
  • MLS # : 14462392
  • Updated Date : 10/29/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,309 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14462392 - Built by Gallery Custom Homes - November completion! ~ This 4 bedroom 3.5 bathroom plan offers a spacious master bedroom, a study that could easily be turned into an extra bedroom, a powder room, as well as a large gourmet kitchen, equipped with the latest desired features and media room. Upstairs includes a loft-game room, perfect for entertaining or hanging out with the family.

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: Shores

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k303k

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

Neighborhood: Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9402209

* 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
 

$428,701$523,967$476,334

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,757
Property Tax -$1,120
Property Insurance -$218
HOA -$24
Property Management Fees -$99
CASH FLOW
-$769

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$476,334

PROJECTED PRICE

$2,450

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,229

INVESTMENT

$128,229

Down Payment
$119,084
Rehab Estimate
$2,000
Closing Costs
$7,145

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,757

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,084
Loan Amount $357,251
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,449

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,2953$2,4004$2,450
$2,450
RENT COMPS ANALYSIS
  • 2201 Hickey Drive Garland, TX 4
    • 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.74
    •  
  • 1414 Sunscape Way Garland, TX 1
    • 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2002
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 4323 Kettering Drive Garland, TX 2
    • 4 beds 3 baths ∙ 3,156 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,156 Sqft ∙ Built 2002
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 1405 Sunscape Way Garland, TX 3
    • 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462392
Last Updated: 10/29/2020
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