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3313 Shoreside Drive Garland, TX 75043

3 Beds 2 Baths 1,592 sqft Built 1985

$224,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $141.27
  • 4 Days on Market
  • MLS # : 14477845
  • Updated Date : 12/04/2020 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,592 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Absolute Perfection! You will love coming home to this adorable and affordable darling residence gently nestled on a dreamy lot with a sparking pool, fabulous deck, storage shed, extended patio and grassy area for pets to enjoy. This compact in size yet grand in functionality & charm home boasts an excellent floorplan that is perfect for modern family living & entertaining. You are welcomed by a spacious living room with gorgeous vaulted beamed ceiling and cozy fireplace. The chef in your family with enjoy the lovely kitchen with double ovens and elegant dining room with tray ceiling. There is a flex space that is perfect for an office, craft or playroom. Great size bedrooms & baths. No carpets in the house!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Lakeside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Lakeside Estates

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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$830
Property Tax -$529
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
-$57

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.

$224,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5203$1,6504$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 3313 Shoreside Drive Garland, TX 2
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.95
    •  
  • 1928 Geary Street Garland, TX 1
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 5010 Wordsworth Drive Garland, TX 3
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1995
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 1913 Geary Street Garland, TX 4
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 1986
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 1614 Knob Hill Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1985
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.01
    •  
PROPERTY LISTING DETAILS
Anastasia Riley
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477845
Last Updated: 12/04/2020
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