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2806 Knightsbridge Lane Garland, TX 75043

4 Beds 4 Baths 3,425 sqft Built 2008

$399,997

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $116.79
  • 4 Days on Market
  • MLS # : 14539996
  • Updated Date : 03/26/2021 at 19:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,425 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

***MULTIPLE OFFERS REC’D, HIGHEST AND BEST DUE SUNDAY 3-28-21 7PM***IMMACULATE 4 BEDROOM, 3.5 BATH HOME WITH MEDIA ROOM, AND GAMEROOM! OPEN LAYOUT! FORMAL DINING OFF ENTRY WITH LARGE LIVING AREA FEATURING GAS LOG FP, RICH DISTRESSED WOOD FLOORS, DESIGNER FAUX FINISHED WALLS, AND CUSTOM CROWN AND TRIM! HALF BATH OFF LIVING! GOURMET KITCHEN WITH RICH KNOTTY ALDER CUSTOM CABINETS TOPPED IN EXOTIC GRANITE, SS DBL OVEN, GAS CKTP, BFAST BAR, AND ISLAND! ENORMOUS MASTER SUITE WITH SITTING AREA AND WOOD FLOORS, PRIVATE BATH WITH GARDEN TUB, SEPERATE SHWR, DUAL VANITIES, AND WALK IN CLOSET! UPSTAIRS 3 WELL APPOINTED SECONDARY BEDROOMS WITH LARGE BATH! HUGE MEDIA ROOM AND LARGE STORAGE-STUDY AREA WITH GAMEROOM ADDITION!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Keningston Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $99k370k

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

Neighborhood: Keningston Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9402361

* 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
 

$359,997$439,997$399,997

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,389
Property Tax -$940
Property Insurance -$211
HOA -$29
Property Management Fees -$99
CASH FLOW
-$379

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.

$399,997

PROJECTED PRICE

$2,290

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.6%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,749

INVESTMENT

$111,749

Down Payment
$99,999
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,999
Loan Amount $299,998
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,303

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2904$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 2806 Knightsbridge Lane Garland, TX 3
    • 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,176 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.72
    •  
  • 3102 Westshore Drive Rowlett, TX 1
    • 4 beds 3 baths ∙ 2,911 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,911 Sqft ∙ Built 1995
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.69
    •  
  • 1222 Mackey Street Garland, TX 2
    • 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,919 Sqft ∙ Built 2001
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 1414 Sunscape Way Garland, TX 4
    • 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2002
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 1405 Sunscape Way Garland, TX 5
    • 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
PROPERTY LISTING DETAILS
Aaron Morrow
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539996
Last Updated: 03/26/2021
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