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2315 Norwich Drive Carrollton, TX 75006

3 Beds 3 Baths 2,102 sqft Built 1993

$375,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $178.40
  • 4 Days on Market
  • MLS # : 14491486
  • Updated Date : 01/30/2021 at 20:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,102 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Real Estate

Listing Agent's Description

Darling 1.5 story home looks like a modern day cottage! Once inside, it's dramatic entry and vaulted ceilings offer loads of sunshine! Freshly painted interior and exterior, radiant barrier roof, Smart thermostat and sprinkler system, and Updated water heater. All 3 bedrooms up with new carpet! Master ensuite has jetted tub and remodeled shower, walk-in Elfa system closet! Wood and tile downstairs. Kitchen updates include new stainless appliances and apron front sink with a reverse osmosis water filtration system. Enjoy views of a treed back yard while sitting in front of your double-sided fireplace. A doggie-door welcomes your pets into the nicely fenced yard with a raised garden spot. Welcome to Norwich!

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: Southwest Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $122k289k

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

Neighborhood: Southwest Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262152

* 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
Jerry R. Junkins Elementary School Primary Regular 715 46 7
E.d. Walker Middle School Middle Regular 748 46 3
W. T. White High School High Regular 2,290 134 4

Jerry R. Junkins Elementary School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 46
7
GreatSchools Rating

E.d. Walker Middle School

  • Education Level: Middle
  • # of students: 748
  • # of teachers: 46
3
GreatSchools Rating

W. T. White High School

  • Education Level: High
  • # of students: 2,290
  • # of teachers: 134
4
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,303
Property Tax -$819
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
-$219

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,761

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,170

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9953$2,1004$2,1505$2,300
$2,300
RENT COMPS ANALYSIS
  • 2315 Norwich Drive Carrollton, TX 4
    • 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,102 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
  • 2209 Norwich Place Carrollton, TX 1
    • 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,980 Sqft ∙ Built 1994
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
  • 2402 Dublin Drive Carrollton, TX 2
    • 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,046 Sqft ∙ Built 1993
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
  • 2203 Meadowstone Drive Carrollton, TX 3
    • 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 1991
    property image
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
  • 2824 Kings Gate Drive Carrollton, TX 5
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 1996
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.11
    •  
PROPERTY LISTING DETAILS
Leigh Davidov
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491486
Last Updated: 01/30/2021
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