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2516 Dove Creek Lane Carrollton, TX 75006

3 Beds 3 Baths 2,079 sqft Built 1984

$385,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $185.19
  • 3 Days on Market
  • MLS # : 14481203
  • Updated Date : 12/19/2020 at 12:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,079 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

MULTIPLE OFFERS RECEIEVED. Come check out this recently updated and move in ready home on a great corner lot! The spacious and open design, with new flooring throughout, works well for everyday living and recent improvements to the kitchen include granite countertops, subway tile backsplash, cooktop, and large walk in pantry. The bathrooms has been updated with new tile, countertops, custom master bathtub and shower. New recessed lighting and custom light fixtures throughout, 2 updated fireplaces, new exterior and interior paint, and much more! Enjoy your outdoor space to create an exclusive entertainment atmosphere with a POOL, spa, and sports court that is ready to go for the summer!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Southwest Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $122k289k

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

Neighborhood: Southwest Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262152

* 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
Charlie Mckamy Elementary School Primary Regular 513 34 4
Ted Polk Middle School Middle Regular 1,100 64 4
Newman Smith High School High Regular 1,973 126 6

Charlie Mckamy Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 34
4
GreatSchools Rating

Ted Polk Middle School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 64
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,420
Property Tax -$841
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
-$348

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.

$385,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,287

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1604$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 2516 Dove Creek Lane Carrollton, TX 3
    • 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,079 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.04
    •  
  • 2305 Incline Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,949 Sqft ∙ Built 1981
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
  • 2604 Leicester Drive Carrollton, TX 2
    • 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 1997
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
  • 2533 Timberleaf Drive Carrollton, TX 4
    • 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,118 Sqft ∙ Built 1995
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.11
    •  
  • 2536 Timberleaf Drive Carrollton, TX 5
    • 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,112 Sqft ∙ Built 1995
    property image
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.14
    •  
PROPERTY LISTING DETAILS
Sarah Hallum
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481203
Last Updated: 12/19/2020
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