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2326 Angel Fire Drive Garland, TX 75044

3 Beds 2 Baths 1,276 sqft Built 1985

$220,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $172.41
  • 2 Days on Market
  • MLS # : 14481898
  • Updated Date : 12/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 2 full
Listing Agent

Seeto Realty

Listing Agent's Description

Charming home located in a quiet and well-established neighborhood. Ceiling fans in all bedrooms and living room. Living area includes vaulted ceilings and white bricked fireplace flows right into the dining and kitchen area for an open concept. Kitchen includes granite countertops, subway tile backsplash, stainless steel whirlpool dishwasher and stove & range. Large French doors give access to a large patio deck and open backyard for the whole family to enjoy. Close to George Bush Turnpike, Firewheel Mall, parks, church & temple, and restaurants. This won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Holiday Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Holiday Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8951734

* 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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$812
Property Tax -$517
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
-$169

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.

$220,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$1,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4953$1,5004$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 2326 Angel Fire Drive Garland, TX 1
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.07
    •  
  • 3406 Hawaii Drive Garland, TX 2
    • 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,443 Sqft ∙ Built 1985
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 3309 Cheyenne Trail Garland, TX 3
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1984
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 2921 Pegasus Drive Garland, TX 4
    • 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,420 Sqft ∙ Built 1978
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 2902 Antares Circle Garland, TX 5
    • 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 1976 3 beds 3 baths ∙ 1,431 Sqft ∙ Built 1976
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
PROPERTY LISTING DETAILS
Alex Dong
Seeto Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481898
Last Updated: 12/05/2020
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