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2609 Rockport Circle Garland, TX 75044

3 Beds 3 Baths 2,926 sqft Built 1991

$374,900

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $128.13
  • 2 Days on Market
  • MLS # : 14517756
  • Updated Date : 02/13/2021 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,926 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Description Beautiful home in much desired Spring Park Addition. This must is see is located on a cul-de-sac with gorgeous mature trees Retreat to your renovated spa like, master bath at the end of a long day A wet bar and 2 fireplaces add to the coziness of the home. Additional amenities include 2 more renovated bathrooms abundant storage, sprinkler system and 2 AC Units and 2 heating units as well as the roof and carpet were replaced in Sept of 2018 Community Club House Pool Park Lake Tennis Courts Room sizes and square footage to be verified by the buyer Conveniently Located minutes from Bush 190 and Central 75 and several corporate headquarters State Farm Blue Cross Peloton and Raytheon

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: Spring Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $99k404k

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

Neighborhood: Spring Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9402391

* 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
Apollo Junior High School Middle Regular 642 42 7
Berkner High School High Regular 2,494 174 4
Apollo Junior High School Middle Unknown NA

Apollo Junior High School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 42
7
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating

Apollo Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,302
Property Tax -$881
Property Insurance -$196
HOA -$82
Property Management Fees -$99
CASH FLOW
-$221

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$374,900

PROJECTED PRICE

$2,340

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$6.0k

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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,960

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,436

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2003$2,3004$2,3405$2,550
$2,550
RENT COMPS ANALYSIS
  • 2609 Rockport Circle Garland, TX 4
    • 3 beds 3 baths ∙ 2,926 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,926 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.80
    •  
  • 2514 Vista Creek Court Garland, TX 1
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1998
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
  • 6922 Clear Springs Circle Garland, TX 2
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 1990
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 2817 Newburyport Avenue Garland, TX 3
    • 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,827 Sqft ∙ Built 1999
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 2700 Sherrill Park Drive Richardson, TX 5
    • 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,912 Sqft ∙ Built 1979
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Phillip Metcalfe
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517756
Last Updated: 02/13/2021
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