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3725 Canon Gate Circle Carrollton, TX 75007

3 Beds 3 Baths 2,853 sqft Built 1997

$399,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $139.85
  • 2 Days on Market
  • MLS # : 14537010
  • Updated Date : 03/20/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,853 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Beautiful home, open floor plan, high ceiling family room, study room downstairs, wood floor, 2 fireplaces, sunroom with storage and another cooking area is a bonus, patio, plano area, 2 car garage with extra storage. Seller did a lot of upgrades!

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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: 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
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,386
Property Tax -$728
Property Insurance -$192
Property Management Fees -$99
CASH FLOW
-$65

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.

$399,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,582

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,3003$2,3404$2,6505$3,000
$3,000
RENT COMPS ANALYSIS
  • 3725 Canon Gate Circle Carrollton, TX 3
    • 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.82
    •  
  • 1913 Camden Way Carrollton, TX 1
    • 3 beds 2 baths ∙ 2,588 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,588 Sqft ∙ Built 1978
    property image
    LEASED 09/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 1919 E Branch Hollow Drive Carrollton, TX 2
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1979
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 1816 Amber Lane Carrollton, TX 4
    • 4 beds 4 baths ∙ 2,740 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,740 Sqft ∙ Built 2004
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.97
    •  
  • 3828 Walden Way Dallas, TX 5
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 1993
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ying Xu
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537010
Last Updated: 03/20/2021
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