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338 Marriott Lane Garland, TX 75040

3 Beds 2 Baths 1,789 sqft Built 1981

$289,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $161.54
  • 4 Days on Market
  • MLS # : 14510651
  • Updated Date : 02/04/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,789 sqft
  • Baths : 2 full
Listing Agent

Amx Realty

Listing Agent's Description

Excellent location between Belt Line Rd and PGBT near Firewheel Town Center with choice of schools in Garland ISD! Well-maintained home with a backyard built for entertaining - the large covered patio and beautiful pool will have you inviting all of your friends and family over! The front yard has a great shade tree for enjoying tons of family time. Converted garage adds a large flex space room to easily convert into a fourth bedroom or game room that opens right to the backyard. Spacious bedrooms and bathrooms with lots of potential for making it your own!

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: Century

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $99k250k

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

Neighborhood: Century

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401788

* 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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,004
Property Tax -$679
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$233

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.

$289,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.1%
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

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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,6904$1,6995$1,725
$1,725
RENT COMPS ANALYSIS
  • 338 Marriott Lane Garland, TX 2
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.94
    •  
  • 2442 Kimberly Drive Garland, TX 1
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1985
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 210 Apollo Road Garland, TX 3
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 1983
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.96
    •  
  • 209 W Schreiber Garland, TX 4
    • 4 beds 2 baths ∙ 1,766 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,766 Sqft ∙ Built 1983
    LEASED 12/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.96
    •  
  • 318 Faircrest Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 1978
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.98
    •  
PROPERTY LISTING DETAILS
Doug Cao
Amx Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510651
Last Updated: 02/04/2021
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