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2646 Carolwood Lane Dallas, TX 75212

3 Beds 4 Baths 2,341 sqft Built 2021

$509,000

List Price

$3,250

$3K - $3.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $217.43
  • 6 Days on Market
  • MLS # : 14500482
  • Updated Date : 01/19/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,341 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jagjit Singh

Listing Agent's Description

Ask about our MEGAsale promotion of 6 months mortgage on us. Megatel Homes will credit the first 6 months of your new mortgage payment. See your community sales consultant for full details. contract and MEGA sale addendum must be signed between July 23rd, 2020 through December 31st, 2020. Mortgage payment refers to principal and interest only. Additional restrictions apply. Megatel Homes reserves the right to change or cancel the program at any time.

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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: Muncie

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $60k243k

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

Neighborhood: Muncie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q260070080090010001100120013001400150016001700Rent in $5601734

* 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
Sidney Lanier Expressive Arts Vanguard Primary Magnet 610 43 7
L.g. Pinkston High School Middle Regular 999 74 3
L.g. Pinkston High School High Regular 999 74 3

Sidney Lanier Expressive Arts Vanguard

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 43
7
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: Middle
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating

L.g. Pinkston High School

  • Education Level: High
  • # of students: 999
  • # of teachers: 74
3
GreatSchools Rating
 

$458,100$559,900$509,000

PURCHASE PRICE

$2,925$3,575$3,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,250
EXPENSES Loan Payment -$1,768
Property Tax -$1,207
Property Insurance -$162
HOA -$167
Property Management Fees -$99
CASH FLOW
-$153

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$509,000

PROJECTED PRICE

$3,250

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,885

INVESTMENT

$136,885

Down Payment
$127,250
Rehab Estimate
$2,000
Closing Costs
$7,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,768

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,250
Loan Amount $381,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$9,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,250

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $3,231

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$2,975
1$2,9752$3,1953$3,2004$3,2505$3,500
$3,500
RENT COMPS ANALYSIS
  • 2646 Carolwood Lane Dallas, TX 4
    • 3 beds 4 baths ∙ 2,341 Sqft ∙ Built 2021 3 beds 4 baths ∙ 2,341 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.39
    •  
  • 4019 Puget Street Dallas, TX 1
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2020
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.19
    •  
  • 647 Aspen Valley Lane Dallas, TX 2
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2018
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.34
    •  
  • 1077 Tea Olive Lane Dallas, TX 3
    • 3 beds 4 baths ∙ 2,234 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,234 Sqft ∙ Built 2018
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.43
    •  
  • 2021 Dennison Street Dallas, TX 5
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 2020
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.56
    •  
PROPERTY LISTING DETAILS
Jagjit Singh
Jagjit Singh
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500482
Last Updated: 01/19/2021
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