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2701 High Cotton Lane Garland, TX 75042

4 Beds 3 Baths 2,210 sqft Built 2020

$474,465

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $214.69
  • 9 Days on Market
  • MLS # : 14475482
  • Updated Date : 11/23/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,210 sqft
  • Baths : 3 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Beautiful Single-Story Gehan MODEL home on PRIME lot location! 4 bedroom 3 bath 2 car garage, gorgeous park view, beautiful large landscaped yard and incredible upgrades! This 2210 sq. ft home is upgraded with a private study and wet bar, beautiful, durable, easy to sanitize wood-look tile flooring, non-porous Omegastone quartz kitchen countertops, 42 inch shaker style style cabinets, upgraded tile backsplash, Executive Package with 11 ft ceilings and 8 ft doors, enhanced interior lighting and extended covered patio. Upgraded fixtures, hardware and appliances.

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: Western Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Western Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8761734

* 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
 

$427,019$521,912$474,465

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,751
Property Tax -$1,115
Property Insurance -$155
HOA -$130
Property Management Fees -$99
CASH FLOW
-$1,220

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.

$474,465

PROJECTED PRICE

$2,030

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.1%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,733

INVESTMENT

$127,733

Down Payment
$118,616
Rehab Estimate
$2,000
Closing Costs
$7,117

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,751

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,616
Loan Amount $355,849
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$2,0303$2,1004$2,400
$2,400
RENT COMPS ANALYSIS
  • 2701 High Cotton Lane Garland, TX 2
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.92
    •  
  • 1221 Wedgecrest Lane Garland, TX 1
    • 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,242 Sqft ∙ Built 2000
    property image
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 3520 Buckboard Way Garland, TX 3
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2013
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 2702 Bechtol Street Garland, TX 4
    • 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 2019
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.11
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475482
Last Updated: 11/23/2020
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