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3487 Briargrove Lane Dallas, TX 75287

4 Beds 3 Baths 3,134 sqft Built 1994

$440,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $140.40
  • 2 Days on Market
  • MLS # : 14476050
  • Updated Date : 12/12/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,134 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

What a place to raise your family! 1 minute walking distance to Mckamy Elementary, this home offers 4 spacious rooms, including a spacious master suite, with custom finishes throughout. A split floor plan keeps your master bedroom serene and private, with a large game room on second level where all the gaming can occur. With over 3000 sqft, space like this in North Dallas is hard to find, so don't let this one pass you by.

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: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k403k

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

Neighborhood: Far North Dallas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9472548

* 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
Charlie Mckamy Elementary School Primary Regular 513 34 4
Ted Polk Middle School Middle Regular 1,100 64 4
Newman Smith High School High Regular 1,973 126 6

Charlie Mckamy Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 34
4
GreatSchools Rating

Ted Polk Middle School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 64
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,623
Property Tax -$870
Property Insurance -$208
HOA -$6
Property Management Fees -$99
CASH FLOW
-$107

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.

$440,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$1.2M$1.4M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$16,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,946

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$2,7004$2,7505$3,000
$3,000
RENT COMPS ANALYSIS
  • 3487 Briargrove Lane Dallas, TX 3
    • 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.86
    •  
  • 2405 Greenwich Drive Carrollton, TX 1
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 1995 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 1995
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 17635 Millwood Place Dallas, TX 2
    • 4 beds 4 baths ∙ 2,932 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,932 Sqft ∙ Built 1992
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.90
    •  
  • 2625 Ramblewood Drive Carrollton, TX 4
    • 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,871 Sqft ∙ Built 1980
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.96
    •  
  • 3828 Walden Way Dallas, TX 5
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 1993
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Adoha Williams
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476050
Last Updated: 12/12/2020
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