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2815 Crystal Falls Drive Garland, TX 75044

4 Beds 4 Baths 3,477 sqft Built 2002

$515,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $148.12
  • 6 Days on Market
  • MLS # : 14468679
  • Updated Date : 11/13/2020 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,477 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Central

Listing Agent's Description

Amazing home in the sought after Crystal Falls subdivision. Welcoming front entry door opens to elegant formals. Floor plan flows to large open kitchen overlooking the beautiful backyard with adjacent environmental green space through a wall of windows. Kitchen has two pantries with an abundance of counter space. Spacious master suite also has a wall of windows, sitting area, and jetted tub in bathroom. Walk upstairs and land into a huge gameroom with nearby 4th bedroom and bathroom. The backyard view overlooks the lush open space of the Richardson Environmental Learning Center. The backyard patio is perfect for entertaining family and friends. The amount of storage in this home is absolutely amazing.

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: Crystal Falls

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k463k

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

Neighborhood: Crystal Falls

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9402851

* 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
Big Springs Elementary School Primary Regular 387 28 8
Big Springs Elementary School Middle Regular 387 28 8
Berkner High School High Regular 2,494 174 4

Big Springs Elementary School

  • Education Level: Primary
  • # of students: 387
  • # of teachers: 28
8
GreatSchools Rating

Big Springs Elementary School

  • Education Level: Middle
  • # of students: 387
  • # of teachers: 28
8
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating
 

$463,500$566,500$515,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,900
Property Tax -$1,211
Property Insurance -$228
HOA -$37
Property Management Fees -$99
CASH FLOW
-$845

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.

$515,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$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$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,625

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4953$2,5004$2,6305$2,800
$2,800
RENT COMPS ANALYSIS
  • 2815 Crystal Falls Drive Garland, TX 4
    • 4 beds 4 baths ∙ 3,477 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,477 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.76
    •  
  • 7410 Woodsprings Drive Garland, TX 1
    • 4 beds 4 baths ∙ 3,254 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,254 Sqft ∙ Built 2001
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.74
    •  
  • 7209 Woodsprings Drive Garland, TX 2
    • 4 beds 3 baths ∙ 3,268 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,268 Sqft ∙ Built 1995
    property image
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.76
    •  
  • 7314 Woodsprings Drive Garland, TX 3
    • 4 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.72
    •  
  • 6626 Rutledge Court Garland, TX 5
    • 4 beds 4 baths ∙ 3,519 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,519 Sqft ∙ Built 2015
    property image
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.80
    •  
PROPERTY LISTING DETAILS
Donna Leibow
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468679
Last Updated: 11/13/2020
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