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2502 Brookwood Lane Garland, TX 75044

4 Beds 2 Baths 1,912 sqft Built 1998

INVESTimate

$289,000

List Price

$1,850

$1,665 - $2,035

Rent Est.

$315,819  ( +9.28%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $151.15
  • 5 Days on Market
  • MLS # : 14414090
  • Updated Date : 08/22/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,912 sqft
  • Baths : 2 full
Listing Agent

Turner Massey Realty, Llc.

Listing Agent's Description

Lovely 4 bedroom home on a corner lot, an open floorplan, open kitchen with granite counters, built in gas cooktop, travertine tile in entry, fireplace, ceilings fans with remote controls.

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: Estates of Shiloh Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k304k

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

Neighborhood: Estates of Shiloh Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9402173

* 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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,066
Property Tax -$679
Property Insurance -$138
HOA -$17
Property Management Fees -$99
CASH FLOW
-$149

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.

$289,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.28%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,912

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7854$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2502 Brookwood Lane Garland, TX 5
    • 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,912 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 5913 Galaxie Garland, TX 1
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1979
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 2717 Strother Drive Garland, TX 2
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 1984
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 2710 Strother Drive Garland, TX 3
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.01
    •  
  • 2609 Strother Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1984
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Renna Creasser
Turner Massey Realty, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414090
Last Updated: 08/22/2020
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