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2904 Sierra Drive Carrollton, TX 75007

4 Beds 2 Baths 1,892 sqft Built 1986

$305,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $161.21
  • 3 Days on Market
  • MLS # : 14520016
  • Updated Date : 02/27/2021 at 11:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full
Listing Agent

Premise Realty, Llc

Listing Agent's Description

Open House Saturday 2-4pm. Move in Ready! Updated, Remodeled & Beautiful! New interior & exterior paint in neutral greys. New light fixtures, ceiling fans, smoke detectors, outlets and switches. New porcelain tile in social areas. Total kitchen remodel: white cabinets, appliances, granite counters, Travertine marble backsplash on long breakfast bar. Double oven, electric range. White plantation shutters. Separate pantry and laundry room. Dining room or 4th bedroom could be home office. Wood floors in Master Bedroom. New carpet in bedrooms on opposite side of home. Updated windows. New Roof 2018. Rare find: alley access 2 car garage for privacy. No HOA. South facing front elevation. Near Bush Tollway & Josey.

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: North Central Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: North Central Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11112171

* 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
Annie Heads Rainwater Elementary School Primary Regular 419 24 8
Charles M. Blalack Middle School Middle Regular 942 60 7
Creekview High School High Regular 1,964 124 7

Annie Heads Rainwater Elementary School

  • Education Level: Primary
  • # of students: 419
  • # of teachers: 24
8
GreatSchools Rating

Charles M. Blalack Middle School

  • Education Level: Middle
  • # of students: 942
  • # of teachers: 60
7
GreatSchools Rating

Creekview High School

  • Education Level: High
  • # of students: 1,964
  • # of teachers: 124
7
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,059
Property Tax -$557
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$68

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.

$305,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,972

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$1,9054$1,9205$1,950
$1,950
RENT COMPS ANALYSIS
  • 2904 Sierra Drive Carrollton, TX 4
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $1.01
    •  
  • 3002 Sierra Drive Carrollton, TX 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1986
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.08
    •  
  • 1636 San Francisco Street Carrollton, TX 2
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.02
    •  
  • 3007 Sierra Drive Carrollton, TX 3
    • 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,892 Sqft ∙ Built 1986
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,905
    • $1.01
    •  
  • 1712 San Francisco Street Carrollton, TX 5
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
PROPERTY LISTING DETAILS
Cynthia Greco
Premise Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520016
Last Updated: 02/27/2021
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