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2261 Longwood Drive Carrollton, TX 75010

3 Beds 4 Baths 2,499 sqft Built 2011

$429,900

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $172.03
  • 3 Days on Market
  • MLS # : 14484227
  • Updated Date : 01/08/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,499 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Under $430,000. in amazing Austin Waters! Darling Homes built this gorgeous best selling model plan. Wide open design with soaring ceilings! Guest suite down. Master suite with study plus guest suite up! Hi end transitional finishes: custom shutters, extensive wood flooring plus stairs! Gourmet kitchen with custom cabinetry,NEW Quartz Counters and backsplash, SS appliance. Master bath and shower 2017 remodel with Carrera marble! July 2019 updated HVAC compressors & coils. 2018 roof, 2019 both water heaters. Beautiful PRIVATE low maintenance outdoor living w upgraded landscape including artificial grass + river rocked beds. Extra storage in garage! Great access to Arbor Hills Nature Preserve, DNT & Legacy West!

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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$1,493
Property Tax -$785
Property Insurance -$172
HOA -$84
Property Management Fees -$99
CASH FLOW
$197

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.

$429,900

PROJECTED PRICE

$2,830

PROJECTED RENT

0.66%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,493

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$36,099

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,893

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$2,735
1$2,7352$2,7953$2,8004$2,8305$2,900
$2,900
RENT COMPS ANALYSIS
  • 2261 Longwood Drive Carrollton, TX 4
    • 3 beds 4 baths ∙ 2,499 Sqft ∙ Built 2011 3 beds 4 baths ∙ 2,499 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $1.13
    •  
  • 2268 Madison Street Carrollton, TX 1
    • 3 beds 3 baths ∙ 2,331 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,331 Sqft ∙ Built 2020
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,735
    • $1.17
    •  
  • 4837 Telluride Lane Carrollton, TX 2
    • 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,535 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.10
    •  
  • 5888 Austin Waters The Colony, TX 3
    • 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,336 Sqft ∙ Built 2018
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.20
    •  
  • 2221 Longwood Drive Carrollton, TX 5
    • 3 beds 4 baths ∙ 2,503 Sqft ∙ Built 2011 3 beds 4 baths ∙ 2,503 Sqft ∙ Built 2011
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.16
    •  
PROPERTY LISTING DETAILS
Donna Bradshaw
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484227
Last Updated: 01/08/2021
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