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2228 Longwood Drive Carrollton, TX 75010

3 Beds 3 Baths 2,611 sqft Built 2012

$454,900

List Price

$2,810

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $174.22
  • 3 Days on Market
  • MLS # : 14488507
  • Updated Date : 12/18/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,611 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Walk up to a covered front porch for relaxing and sipping coffee. This is it with extensive dark-stained hardwoods, farm sink & granite counters in the kitchen, glass tile backsplash, & custom cabinets. Just inside the front door is a study with french doors, & custom light fixtures. The study could also be formal dining. Upstairs living features a full wall of custom storage with sink & wine frig. 5.1 Surround sound in both living areas. Upgrades abound including plantation shutters. Master bedroom with sitting area and tray ceiling. Rainshower head faucet in the shower, large soaking tub, & a true master-sized closet with built-ins. Backyard has an extended patio for entertaining & grilling.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Austin Ranch

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k355k

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

Neighborhood: Austin Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263108

* 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
Hicks Elementary School Primary Regular 615 43 9
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Hicks Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 43
9
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
 

$409,410$500,390$454,900

PURCHASE PRICE

$2,529$3,091$2,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,810
EXPENSES Loan Payment -$1,678
Property Tax -$830
Property Insurance -$178
HOA -$92
Property Management Fees -$99
CASH FLOW
-$67

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.

$454,900

PROJECTED PRICE

$2,810

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 1.7%
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-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$126,299

INVESTMENT

$126,299

Down Payment
$113,725
Rehab Estimate
$5,750
Closing Costs
$6,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,678

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,725
Loan Amount $341,175
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$19,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,810

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,826

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,499
1$2,4992$2,6003$2,7954$2,8105$2,900
$2,900
RENT COMPS ANALYSIS
  • 2228 Longwood Drive Carrollton, TX 4
    • 3 beds 3 baths ∙ 2,611 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,611 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,810
    • $1.08
    •  
  • 2229 Lexington Way Carrollton, TX 1
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2018
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $1.03
    •  
  • 2141 Bonnell Street Carrollton, TX 2
    • 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,489 Sqft ∙ Built 2020
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 4837 Telluride Lane Carrollton, TX 3
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2018
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.10
    •  
  • 2221 Longwood Drive Carrollton, TX 5
    • 3 beds 4 baths ∙ 2,503 Sqft ∙ Built 2011 3 beds 4 baths ∙ 2,503 Sqft ∙ Built 2011
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.16
    •  
PROPERTY LISTING DETAILS
Stephanie Ziemann
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488507
Last Updated: 12/18/2020
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