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2513 Chariot Lane Garland, TX 75044

4 Beds 2 Baths 1,856 sqft Built 1981

$230,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $123.92
  • 4 Days on Market
  • MLS # : 14470357
  • Updated Date : 11/12/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Tng Realty

Listing Agent's Description

Bring your own touch up in this wonderful and spacious home in the heart of Garland. Top notch LOCATION location. Just a few minutes from grocery stores, Asian markets, authentic restaurants, major highways. This home is clean and ready for a new owner to make it shine. DYI enthusiasm will appreciate a clean home at this price point with minimal remodeling. Big back yard with covered patio and a small store shed on the side. Roof and HVAC system are fairly new. Sellers are elderly couples so this home is sold AS-IS. It is priced right for a quick sale considering some minor imperfections. Come see it to appreciate its potential.

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: Camelot

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Camelot

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$849
Property Tax -$541
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$7

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.

$230,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$12,435

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,745

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,7503$1,7504$1,7855$1,800
$1,800
RENT COMPS ANALYSIS
  • 2513 Chariot Lane Garland, TX 1
    • 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,856 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.88
    •  
  • 2325 Knighthood Lane Garland, TX 2
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 1988
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 2813 Chariot Lane Garland, TX 3
    • 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,852 Sqft ∙ Built 1975
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 2710 Strother Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $1.01
    •  
  • 3113 Castle Rock Lane Garland, TX 5
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 1977
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cindy Ton
Tng Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470357
Last Updated: 11/12/2020
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