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2637 Ladywood Drive Garland, TX 75040

3 Beds 2 Baths 1,637 sqft Built 1986

$270,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $164.94
  • 3 Days on Market
  • MLS # : 14496934
  • Updated Date : 01/15/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,637 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Garland one-story home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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: Meadowood South

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $99k257k

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

Neighborhood: Meadowood South

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$938
Property Tax -$635
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$183

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.

$270,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.1%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,889

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6103$1,7254$1,7955$1,825
$1,825
RENT COMPS ANALYSIS
  • 2637 Ladywood Drive Garland, TX 2
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.98
    •  
  • 2738 Dukeswood Drive Garland, TX 1
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1990
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 610 Buttercup Circle Garland, TX 3
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1987
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.96
    •  
  • 2709 Hampshire Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1986
    property image
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 2901 Hampshire Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.03
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496934
Last Updated: 01/15/2021
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