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3462 Forest Hills Circle Garland, TX 75044

3 Beds 2 Baths 2,182 sqft Built 1991

$347,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $159.03
  • 3 Days on Market
  • MLS # : 14514973
  • Updated Date : 03/13/2021 at 19:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,182 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors Plano

Listing Agent's Description

Light, Bright and Open 3 bed 2 bath 2 living area home in sought after Spring Park. This AMAZING homes boasts oversized kitchen with eat in bar, granite countertops, convection oven, built in microwave, lg separate laundry rm, cozy kitchenette with built in seating, double pane windows, large under stair storage, gas log fireplace with granite and stone surround, 2 bedrooms down and secluded oversized master suite up, dual sinks, separate shower, garden tub, extra space in master could be used as a study or relaxing nook. Two cozy outdoor areas off family rm with lots of character and space to relax, garage has amazing Redline Garage Gear storage cabinets, rust proof, lining back wall with epoxy covered floor.

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
Apollo Junior High School Middle Regular 642 42 7
Berkner High School High Regular 2,494 174 4
Apollo Junior High School Middle Unknown NA

Apollo Junior High School

  • Education Level: Middle
  • # of students: 642
  • # of teachers: 42
7
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating

Apollo Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$312,300$381,700$347,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,205
Property Tax -$816
Property Insurance -$153
HOA -$82
Property Management Fees -$99
CASH FLOW
-$405

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.

$347,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.56%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$97,705

INVESTMENT

$97,705

Down Payment
$86,750
Rehab Estimate
$5,750
Closing Costs
$5,205

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,205

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,750
Loan Amount $260,250
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$77

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,986

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9504$2,0955$2,150
$2,150
RENT COMPS ANALYSIS
  • 3462 Forest Hills Circle Garland, TX 3
    • 3 beds 2 baths ∙ 2,182 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,182 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 1923 Arvada Drive Richardson, TX 1
    • 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,038 Sqft ∙ Built 1979
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 3201 Christie Circle Garland, TX 2
    • 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
    •  
  • 2312 Blue Cypress Drive Richardson, TX 4
    • 3 beds 2 baths ∙ 2,244 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,244 Sqft ∙ Built 1982
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.93
    •  
  • 3422 Heather Hill Drive Garland, TX 5
    • 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 1979
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.90
    •  
PROPERTY LISTING DETAILS
Caryn Kelley
Ebby Halliday, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514973
Last Updated: 03/13/2021
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