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3029 Creek Meadow Lane Garland, TX 75040

4 Beds 3 Baths 2,634 sqft Built 2001

$330,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $125.28
  • 3 Days on Market
  • MLS # : 14511675
  • Updated Date : 02/05/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,634 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sage Street Realty

Listing Agent's Description

Beautiful 4 bedroom, 2 and a half bath house. 2 living areas and 2 dining areas. Wood floors and tile throughout. Granite counters in Kitchen with built-in cooktop. Large bedrooms upstairs. Close to Firewheel Mall and George Bush Hwy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Valley Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $99k282k

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

Neighborhood: Valley Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401772

* 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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,146
Property Tax -$776
Property Insurance -$179
Property Management Fees -$99
CASH FLOW
-$130

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.

$330,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,120

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9903$2,0704$2,0755$2,300
$2,300
RENT COMPS ANALYSIS
  • 3029 Creek Meadow Lane Garland, TX 3
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.79
    •  
  • 3013 Creek Valley Drive Garland, TX 1
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 1999
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 2237 Country Hollow Lane Garland, TX 2
    • 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1993
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.77
    •  
  • 3801 Remington Court Sachse, TX 4
    • 5 beds 3 baths ∙ 2,579 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,579 Sqft ∙ Built 2000
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.80
    •  
  • 2226 Oak Grove Circle Garland, TX 5
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2000
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Marcie Smith
Sage Street Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511675
Last Updated: 02/05/2021
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