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3831 Kelly Boulevard Carrollton, TX 75007

3 Beds 3 Baths 2,133 sqft Built 1985

$367,400

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $172.25
  • 2 Days on Market
  • MLS # : 14536466
  • Updated Date : 03/20/2021 at 15:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,133 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Trinity

Listing Agent's Description

Just minutes away from the Dallas N. Tollway and GW Bush turnpike, this absolutely stunning property is in the coveted Highlands of Carrollton neighborhood. This home features a gorgeous island kitchen, a spacious formal living area, and a large owner's suite with a Jack and Jill bathroom. In addition, this property features a separate formal dining as well as a large second living area that can be an indoor play space for the kids, an oversized office, or just a place to relax and catch a movie. The spacious back yard features a covered patio with enough room to put in a swimming pool to create your own oasis! Refrigerator, Washer-Dryer Combo and most of the furnishings are negotiable.

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: Highlands of Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k360k

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

Neighborhood: Highlands of Carrollton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262321

* 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
 

$330,660$404,140$367,400

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,276
Property Tax -$671
Property Insurance -$150
HOA -$15
Property Management Fees -$99
CASH FLOW
-$151

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.

$367,400

PROJECTED PRICE

$2,060

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$103,111

INVESTMENT

$103,111

Down Payment
$91,850
Rehab Estimate
$5,750
Closing Costs
$5,511

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,276

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,850
Loan Amount $275,550
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,069

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,0003$2,0604$2,0755$2,400
$2,400
RENT COMPS ANALYSIS
  • 3831 Kelly Boulevard Carrollton, TX 3
    • 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.97
    •  
  • 2703 Van Gogh Place Dallas, TX 1
    • 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 1987
    property image
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.97
    •  
  • 2022 Crestside Drive Carrollton, TX 2
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1983
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 2108 Fawn Ridge Trail Carrollton, TX 4
    • 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,254 Sqft ∙ Built 1985
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.92
    •  
  • 2517 Glen Morris Road Carrollton, TX 5
    • 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,300 Sqft ∙ Built 1992
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.04
    •  
PROPERTY LISTING DETAILS
James Rossi
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536466
Last Updated: 03/20/2021
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