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3203 Hillpark Lane Carrollton, TX 75007

4 Beds 3 Baths 3,210 sqft Built 1991

$389,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $121.18
  • 4 Days on Market
  • MLS # : 14520559
  • Updated Date : 02/26/2021 at 13:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,210 sqft
  • Baths : 3 full
Listing Agent

Nail And Key

Listing Agent's Description

Meticulously maintained ONE owner home nestled within coveted, established neighborhood in the heart of Carrollton! Extensive updates & vaulted ceilings boast throughout! Step inside the inviting 2 story entry to find an upgraded staircase, warm hand scraped hardwoods & versatile living areas for entertaining. New HVAC, roof, HW heater, flooring, windows, kitchen & bath remodels in last 5 yrs! Oversized master suite features 2 walk in closets & fully renovated bath. HUGE bonus rm serves as flex. Outdoor kitchen, covered pergola & stamped concrete overlook spacious yard! Stone's throw away from parks, greenbelt, trails & Blue Ribbon Kent Elementary! Updated homes of this size & price are a rarity in Carrollton!

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: Timbercreek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k363k

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

Neighborhood: Timbercreek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262333

* 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
E.l. Kent Elementary School Primary Regular 398 26 9
Charles M. Blalack Middle School Middle Regular 942 60 7
Creekview High School High Regular 1,964 124 7

E.l. Kent Elementary School

  • Education Level: Primary
  • # of students: 398
  • # of teachers: 26
9
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
 

$350,100$427,900$389,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,351
Property Tax -$710
Property Insurance -$213
Property Management Fees -$99
CASH FLOW
$167

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.

$389,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$31,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,592

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4953$2,5404$2,7005$2,790
$2,790
RENT COMPS ANALYSIS
  • 3203 Hillpark Lane Carrollton, TX 3
    • 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 1991 4 beds 3 baths ∙ 3,210 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.79
    •  
  • 2710 Devonshire Drive Carrollton, TX 1
    • 3 beds 3 baths ∙ 3,046 Sqft ∙ Built 1986 3 beds 3 baths ∙ 3,046 Sqft ∙ Built 1986
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 3528 Sweetspring Drive Carrollton, TX 2
    • 4 beds 3 baths ∙ 3,324 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,324 Sqft ∙ Built 1998
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.75
    •  
  • 3520 Cimarron Drive Carrollton, TX 4
    • 5 beds 3 baths ∙ 3,094 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,094 Sqft ∙ Built 2000
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
  • 3301 Hillpark Lane Carrollton, TX 5
    • 5 beds 4 baths ∙ 3,427 Sqft ∙ Built 1991 5 beds 4 baths ∙ 3,427 Sqft ∙ Built 1991
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lura Frith
Nail And Key
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520559
Last Updated: 02/26/2021
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