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2421 Mare Road Carrollton, TX 75010

4 Beds 4 Baths 3,768 sqft Built 2016

INVESTimate

$625,000

List Price

$3,280

$3,030 - $3,530

Rent Est.

$702,250  ( +12.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $165.87
  • 7 Days on Market
  • MLS # : 14268355
  • Updated Date : 08/26/2020 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,768 sqft
  • Baths : 3 full , 1 half
Listing Agent

Kw Coastal Bend

Listing Agent's Description

This gorgeous home in sought after Mustang Park has an amazing back yard living area, with grill,green egg, fireplace, & flat screen. Awesome floor plan has master, and large study on first floor! Kitchen boasts loads of cabinets, SS appliances, gas cooktop, granite countertops and beautiful hardwood flooring throughout main areas. Upstairs has 2 generous sized bedrooms w jack and jill baths and second master sized guest room w private bath.Huge game room with workout area. Home has a 3 car tandem garage. Centrally located West Plano-Carrollton city line close to DNT, GB, 121, Willow Bend, Prestonwood, Prince of Peace, Legacy Park, Toyota Headquarters, shopping, dining, entertainment!

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: Northeast Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Neighborhood: Northeast Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10862171

* 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
Indian Creek Elementary School Primary Regular 631 39 7
Arbor Creek Middle School Middle Regular 894 59 8
Hebron High School High Regular 2,458 138 7

Indian Creek Elementary School

  • Education Level: Primary
  • # of students: 631
  • # of teachers: 39
7
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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$2,306
Property Tax -$1,141
Property Insurance -$245
HOA -$63
Property Management Fees -$99
CASH FLOW
-$573

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.

$625,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$2,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,316

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,0003$3,2804$3,3005$3,700
$3,700
RENT COMPS ANALYSIS
  • 2421 Mare Road Carrollton, TX 3
    • 4 beds 4 baths ∙ 3,768 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,768 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $0.87
    •  
  • 2525 Sandy Creek Lane The Colony, TX 1
    • 5 beds 4 baths ∙ 3,421 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,421 Sqft ∙ Built 2016
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.88
    •  
  • 3124 Prestonwood Drive Plano, TX 2
    • 4 beds 3 baths ∙ 3,657 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,657 Sqft ∙ Built 1999
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.82
    •  
  • 3200 Prestonwood Drive Plano, TX 4
    • 4 beds 3 baths ∙ 3,655 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,655 Sqft ∙ Built 1999
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.90
    •  
  • 2308 Cardinal Boulevard Carrollton, TX 5
    • 5 beds 6 baths ∙ 4,025 Sqft ∙ Built 2011 5 beds 6 baths ∙ 4,025 Sqft ∙ Built 2011
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Deborah Packer
Kw Coastal Bend
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14268355
Last Updated: 08/26/2020
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