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2702 Geneva Drive Garland, TX 75040

3 Beds 2 Baths 1,637 sqft Built 1983

$234,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $143.49
  • 3 Days on Market
  • MLS # : 14459717
  • Updated Date : 11/14/2020 at 18:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,637 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

FIRST, look at this oversized home in one of the metroplex's easiest locations. Near GBT, Firewheel, and Garland ISD. See the front to back open DOUBLE living areas. The tastefully STUNNING fireplace in the living room is the focus. Fine GRANITE countertops in the upgraded kitchen with room for pull up barstools for FRIENDSHIPS. Huge master has full walk in closet and full bath. This CULDESAC is full of well kept homes and away from neighborhood traffic. Sit and relax on BACK PORCH with its special acrylic floor. Unique iron fenced DOG YARD to separate your company and happy dogs. Even the ACRYLIC floor in the garage and full laundry in garage are superior. There is a lot to love at 2702.

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: Carriagehouse

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Carriagehouse

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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$867
Property Tax -$552
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$60

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.

$234,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.4%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,720

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,694

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6954$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2702 Geneva Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 1102 Carriagehouse Lane Garland, TX 1
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1978
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 1237 Sicily Drive Garland, TX 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1983
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 806 Pyramid Drive Garland, TX 3
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 1980
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.07
    •  
  • 1013 Carriagehouse Lane Garland, TX 4
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1975
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
PROPERTY LISTING DETAILS
Gary Foster
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459717
Last Updated: 11/14/2020
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