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3203 Willow Ridge Trail Carrollton, TX 75007

5 Beds 4 Baths 4,427 sqft Built 1991

$525,000

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $118.59
  • 1 Days on Market
  • MLS # : 14501150
  • Updated Date : 01/24/2021 at 00:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,427 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Well-lit East facing home, spacious floor plan w split Formals,5 bdrms, 4 bath, 2 lvg areas, dining rm, & Pool. hvac(2018), tankless water heater(2017), ROOF(2018), oven, Microwave, & cooktop (2020) large driveway to store boat or RV. One bdrm W full bath down, master & 3 bedrooms w 3 full baths upstairs. Huge Kitchen w Granite ctop, SS appliances, walk-in pantry, tons of counter space, cabinets & windows. LG Family room is perfect for entertaining guests. Updated Master bath w frameless shower, his-her closets. Large Game room can be media room. Walk to exemplary blue ribbon elementary & high schools. Few minutes to 35E, SH121 & GB190 Easy access to DART & Golf. Step outside to beautiful park & walking trail.

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: 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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$1,824
Property Tax -$958
Property Insurance -$283
Property Management Fees -$99
CASH FLOW
-$134

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.

$525,000

PROJECTED PRICE

$3,030

PROJECTED RENT

0.58%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$14,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $3,010

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9953$3,0004$3,030
$3,030
RENT COMPS ANALYSIS
  • 3203 Willow Ridge Trail Carrollton, TX 4
    • 5 beds 4 baths ∙ 4,427 Sqft ∙ Built 1991 5 beds 4 baths ∙ 4,427 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $0.68
    •  
  • 3957 Freshwater Drive Carrollton, TX 1
    • 5 beds 4 baths ∙ 4,459 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,459 Sqft ∙ Built 2005
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.64
    •  
  • 1505 Branch Hollow Drive Carrollton, TX 2
    • 5 beds 4 baths ∙ 4,254 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,254 Sqft ∙ Built 2006
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.70
    •  
  • 1428 Peters Colony Carrollton, TX 3
    • 4 beds 4 baths ∙ 4,299 Sqft ∙ Built 1990 4 beds 4 baths ∙ 4,299 Sqft ∙ Built 1990
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.70
    •  
PROPERTY LISTING DETAILS
Pragnesh Shah
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501150
Last Updated: 01/24/2021
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