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3707 Kelly Boulevard Carrollton, TX 75007

4 Beds 3 Baths 2,733 sqft Built 1992

$395,500

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $144.71
  • 5 Days on Market
  • MLS # : 14494525
  • Updated Date : 01/14/2021 at 14:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,733 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Lovely 4 bed, 2.1 bath home located minutes from George Bush and Tollway. Enter into the large spacious living area with fireplace in the front of the home with open dining room or venture to the cozy living room in the back with the second fireplace. Kitchen has granite counter tops and breakfast bar and also an eat in dining area with small built in desk. Large private, Master suite has tray ceiling. Master bathroom has dual sinks, shower, separate tub and two large walk-in closets. Off front hallway is 3 bedrooms, all with large walk-in closets. Also includes much desired 3 car garage.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Northeast Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $120k336k

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

Neighborhood: Northeast Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10862171

* 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
Sheffield Elementary School Primary Regular NA
Dan F. Long Middle School Middle Regular 718 51 4
Newman Smith High School High Regular 1,973 126 6

Sheffield Elementary School

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

Dan F. Long Middle School

  • Education Level: Middle
  • # of students: 718
  • # of teachers: 51
4
GreatSchools Rating

Newman Smith High School

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

$355,950$435,050$395,500

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,374
Property Tax -$722
Property Insurance -$185
HOA -$11
Property Management Fees -$99
CASH FLOW
$209

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.

$395,500

PROJECTED PRICE

$2,600

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 12.4%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,558

INVESTMENT

$110,558

Down Payment
$98,875
Rehab Estimate
$5,750
Closing Costs
$5,933

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,374

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,875
Loan Amount $296,625
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$36,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,719

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5003$2,5004$2,6005$3,150
$3,150
RENT COMPS ANALYSIS
  • 3707 Kelly Boulevard Carrollton, TX 4
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 1900 Kensington Drive Carrollton, TX 1
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 1978
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 2003 Sancerre Lane Carrollton, TX 2
    • 5 beds 3 baths ∙ 2,452 Sqft ∙ Built 1983 5 beds 3 baths ∙ 2,452 Sqft ∙ Built 1983
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.02
    •  
  • 3536 Briargrove Lane Dallas, TX 3
    • 4 beds 3 baths ∙ 2,505 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,505 Sqft ∙ Built 1993
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.00
    •  
  • 2829 Creekway Drive Carrollton, TX 5
    • 4 beds 4 baths ∙ 3,040 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,040 Sqft ∙ Built 2011
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.04
    •  
PROPERTY LISTING DETAILS
April Temple
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494525
Last Updated: 01/14/2021
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