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2606 Sylvan Drive Garland, TX 75040

4 Beds 4 Baths 2,001 sqft Built 1994

$299,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $149.43
  • 6 Days on Market
  • MLS # : 14462134
  • Updated Date : 11/03/2020 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,001 sqft
  • Baths : 2 full , 2 half
Listing Agent

Novus Real Estate

Listing Agent's Description

Gorgeous large 4 bedroom, 2 bathroom home in Meadow Crest Estate of North garland. Beautiful landscaping on the front yard highlighted by mature trees. Easy access to 190 George Push highway and 15 min drive to Lake Ray Hubbard and close to N. Garland school. Open kitchen with features an island and stainless steel oven range that flows seamlessly into the living room. Master bathroom with walk-in separate shower, garden tub and dual vanities. Large back yard with beautiful landscape and cover patio cover for outdoor enjoyment. Recently updated includes siding, window blind, new carpet entire house, new paint interior wall. Refrigerator stay with the property. Separate Metal Shed for extra storage.

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: Meadow Crest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $99k326k

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

Neighborhood: Meadow Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9401966

* 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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,103
Property Tax -$703
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$278

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.

$299,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.1%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,043

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,5953$1,7704$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 2606 Sylvan Drive Garland, TX 3
    • 4 beds 4 baths ∙ 2,001 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,001 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.88
    •  
  • 2705 Meadow Park Drive Garland, TX 1
    • 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,811 Sqft ∙ Built 1974
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.87
    •  
  • 1018 Fair Oaks Drive Garland, TX 2
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1977
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.83
    •  
  • 1302 Wagon Wheel Road Garland, TX 4
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1988
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 2722 Meadow Park Drive Garland, TX 5
    • 4 beds 2 baths ∙ 1,955 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,955 Sqft ∙ Built 1974
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Dan Nguyen
Novus Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462134
Last Updated: 11/03/2020
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