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2212 Burgundy Drive Carrollton, TX 75006

4 Beds 3 Baths 2,732 sqft Built 1987

$340,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $124.45
  • 4 Days on Market
  • MLS # : 14474398
  • Updated Date : 11/19/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,732 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Fantastic location in Carrollton near Kelly & Keller Springs, right around the corner from Maridoe Golf Club! Needs some updates, but tons of potential here! 4 Bedroom, 3 full bathrooms, 2 Living Areas, 2 Dining Areas. Great Floorplan w Split Bedrooms. Plantation Shutters. Wet Bar. 3rd Bath Has Door to Patio. Sink in Utility Room & Garage. Call agent for appointment.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Bel Air of Josey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: Bel Air of Josey Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262724

* 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
Country Place Elementary School Primary Regular 327 25 8
Ted Polk Middle School Middle Regular 1,100 64 4
Newman Smith High School High Regular 1,973 126 6

Country Place Elementary School

  • Education Level: Primary
  • # of students: 327
  • # of teachers: 25
8
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,254
Property Tax -$746
Property Insurance -$185
Property Management Fees -$99
CASH FLOW
$96

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.

$340,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.4%
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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$26,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,486

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3803$2,5004$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 2212 Burgundy Drive Carrollton, TX 2
    • 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,732 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.87
    •  
  • 2120 Hunters Ridge Carrollton, TX 1
    • 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,482 Sqft ∙ Built 1980
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 2528 Lands End Drive Carrollton, TX 3
    • 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,770 Sqft ∙ Built 1994
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 2405 Greenwich Drive Carrollton, TX 4
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 1995 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 1995
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 2207 Creekview Carrollton, TX 5
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 1979
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Benny Gross
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474398
Last Updated: 11/19/2020
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