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2910 Andrea Lane Garland, TX 75040

3 Beds 2 Baths 1,681 sqft Built 1999

$250,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $148.72
  • 2 Days on Market
  • MLS # : 14467047
  • Updated Date : 11/07/2020 at 08:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,681 sqft
  • Baths : 2 full
Listing Agent

Harold Carter, Realtors Plano

Listing Agent's Description

You'll LOVE all the updating that has been done to this home. The home owner really had a pride of ownership. You'll enjoy the spacious family room, open to the kitchen and breakfast area, walk-in closets & large backyard. Updates include shower and vanity updates, kitchen backsplash, under cabinet lighting, and shiplap in the living room and master bath. Inside AC unit replaced in 2018, and a new oven in 2019. Come check out the charming home!

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: Schreiber

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $99k251k

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

Neighborhood: Schreiber

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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$922
Property Tax -$588
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
-$73

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.

$250,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,694

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6603$1,7254$1,7955$1,825
$1,825
RENT COMPS ANALYSIS
  • 2910 Andrea Lane Garland, TX 2
    • 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,681 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.99
    •  
  • 2738 Dukeswood Drive Garland, TX 1
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 1990
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 610 Buttercup Circle Garland, TX 3
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1987
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.96
    •  
  • 2709 Hampshire Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1986
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 2901 Hampshire Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1986
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.03
    •  
PROPERTY LISTING DETAILS
Lesley Booker
Harold Carter, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467047
Last Updated: 11/07/2020
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