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2514 Rodeo Court Garland, TX 75044

4 Beds 2 Baths 2,102 sqft Built 1998

$287,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $136.96
  • 2 Days on Market
  • MLS # : 14527926
  • Updated Date : 03/06/2021 at 19:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,102 sqft
  • Baths : 2 full
Listing Agent

Rekonnection, Llc

Listing Agent's Description

BEAUTIFUL SINGLE STORY HOME ON QUIET CUL DE SAC MINUTES AWAY FROM I90 PGBT FEATURES SPACIOUS ENTRY WITH FORMAL DINING OR LIVING STUDY FLEX SPACE TO THE LEFT. REFINISHED KITCHEN OFFERS GRANITE COUNTERS, TILE BACKSPLASH AND IS OPEN TO THE FAMILY LIVING AREA. SPLIT BEDROOMS OFFER PRIVACY AND COMFORT WITH MAIN BEDROOM IN THE REAR WITH GLASS SHOWER, GARDEN TUB AND HUGE WALK-IN CLOSET. 3 GREAT SIZED BEDROOMS MAKES FOR VERSATILE FLOOR PLAN. BACKYARD FEATURES PERGOLA WITH AN EXTENDED CONCRETE PATIO AND PERFECTLY SIZED GREEN SPACE FOR KIDS OR PETS. COME SEE THIS HOME TODAY!

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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: 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
 

$259,110$316,690$287,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,000
Property Tax -$677
Property Insurance -$149
HOA -$16
Property Management Fees -$99
CASH FLOW
-$70

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.

$287,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,044

INVESTMENT

$82,044

Down Payment
$71,975
Rehab Estimate
$5,750
Closing Costs
$4,319

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,000

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,975
Loan Amount $215,925
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,227

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,839

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7953$1,7954$1,8505$1,870
$1,870
RENT COMPS ANALYSIS
  • 2514 Rodeo Court Garland, TX 5
    • 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.89
    •  
  • 5414 Castleview Lane Garland, TX 1
    • 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 1978
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.87
    •  
  • 2710 Francisco Drive Garland, TX 2
    • 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 1985
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 2329 Lancecrest Drive Garland, TX 3
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 1987
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.93
    •  
  • 5714 Wyrick Lane Garland, TX 4
    • 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 1983
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
PROPERTY LISTING DETAILS
Rachael Patel
Rekonnection, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527926
Last Updated: 03/06/2021
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