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3111 Annette Court Garland, TX 75044

3 Beds 2 Baths 1,887 sqft Built 1980

$305,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $161.63
  • 4 Days on Market
  • MLS # : 14502063
  • Updated Date : 01/21/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,887 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

Fabulous updated 1 story home in highly sought Spring Park. Hidden behind tree canopied streets, this beautiful home is tastefully update w- wood floors, granite counter tops, designer lighting, stainless steel appliances & custom painted cabinetry & panelling. With wood beamed ceilings, wet bar, a full linen closet, butler's pantry in laundry, tons of windows allowing sunlight to beam thru every room & his & her closets in the master, this new feeling home still has all the character that only more mature homes offer. Enjoy mornings & evenings on the open court yard patio off kitchen or the fully covered courtyard patio w- ceiling fan off the living room. Formal dining room is currently used as a sitting room

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: Spring Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $99k404k

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

Neighborhood: Spring Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9402391

* 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
 

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

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,059
Property Tax -$720
Property Insurance -$136
HOA -$85
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 15% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$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 65% 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

2.08

YEARS SAVED

$4,405

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,821

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6953$1,7954$1,8505$1,970
$1,970
RENT COMPS ANALYSIS
  • 3111 Annette Court Garland, TX 5
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.04
    •  
  • 3014 W Campbell Road Garland, TX 1
    • 4 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,881 Sqft ∙ Built 1981
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.90
    •  
  • 2721 Phillips Drive Garland, TX 2
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 1983
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 7414 Courtside Drive Garland, TX 3
    • 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,737 Sqft ∙ Built 1984
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 3201 Christie Circle Garland, TX 4
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1976
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Patty Turner
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502063
Last Updated: 01/21/2021
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