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4006 Wallingford Drive Garland, TX 75043

4 Beds 3 Baths 2,564 sqft Built 1994

$299,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $116.61
  • 2 Days on Market
  • MLS # : 14488960
  • Updated Date : 12/26/2020 at 20:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,564 sqft
  • Baths : 3 full
Listing Agent

Real Dallas Properties & Mngmt

Listing Agent's Description

Charming 2 story, corner lot home awaits new ownership in an established neighborhood with easy access to I-30 and George Bush Turnpike. This home has 4 beds, 3 baths and lots of living space. Loft area perfect for upstairs office. Very spacious with 2564 sq. feet. Large living space with fire place open to kitchen and breakfast area. Formal dining and formal living perfect for entertaining. Great size fenced backyard with multiple storage sheds. This home will not last long, call to schedule your showing today!

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: Lakeview Windsor Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Lakeview Windsor Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
Hillside Academy For Excel Primary Magnet 463 29 10
Classical Center At Brandenburg Middle School Middle Magnet 1,158 64 8
Sachse High School High Regular 2,859 159 7

Hillside Academy For Excel

  • Education Level: Primary
  • # of students: 463
  • # of teachers: 29
10
GreatSchools Rating

Classical Center At Brandenburg Middle School

  • Education Level: Middle
  • # of students: 1,158
  • # of teachers: 64
8
GreatSchools Rating

Sachse High School

  • Education Level: High
  • # of students: 2,859
  • # of teachers: 159
7
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,103
Property Tax -$703
Property Insurance -$175
Property Management Fees -$99
CASH FLOW
$20

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.

$299,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,846

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,224

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$2,0853$2,1004$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 4006 Wallingford Drive Garland, TX 3
    • 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 4214 Cedar Creek Drive Garland, TX 1
    • 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 1977
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.82
    •  
  • 4102 Cedar Creek Garland, TX 2
    • 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,379 Sqft ∙ Built 1978
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $0.88
    •  
  • 1706 Hill Creek Drive Garland, TX 4
    • 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 1996
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 4510 Carlton Drive Garland, TX 5
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 2002
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
PROPERTY LISTING DETAILS
Alicia Underwood
Real Dallas Properties & Mngmt
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488960
Last Updated: 12/26/2020
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