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4013 Chinaberry Drive Garland, TX 75043

3 Beds 2 Baths 2,230 sqft Built 2001

$279,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $125.52
  • 4 Days on Market
  • MLS # : 14494919
  • Updated Date : 01/09/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,230 sqft
  • Baths : 2 full
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Exceptional floor plan in the desirable Rustic Oaks Estates subdivision. This lovely home has only had one owner and is close to both I-30 and George Bush highways for quick access to downtown and North Dallas. From the moment you step into the foyer, you can feel how warm and cozy this house feels. Study and two bedrooms are on the left while the big master bed, garden tub in the master bath and walk-in closet are on the other end for privacy. Imagine yourself in the large living space, with lots of natural light coming through the windows from the quaint patio and backyard. You're going to love this versatile home in this particular neighborhood! Highest and Best Offer Deadline is 01.11.2021 at 5pm.

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: Rustic Oaks Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $99k253k

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

Neighborhood: Rustic Oaks Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9401838

* 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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$972
Property Tax -$658
Property Insurance -$156
HOA -$31
Property Management Fees -$99
CASH FLOW
$33

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.

$279,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$1,8953$1,8954$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 4013 Chinaberry Drive Garland, TX 4
    • 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 5802 Blue Oak Drive Garland, TX 1
    • 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2004
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.84
    •  
  • 4029 Mulberry Drive Garland, TX 2
    • 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,214 Sqft ∙ Built 2002
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 3817 English Oak Drive Garland, TX 3
    • 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,106 Sqft ∙ Built 2003
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 4017 Chinaberry Drive Garland, TX 5
    • 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,045 Sqft ∙ Built 2002
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Johnson Nguyen
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494919
Last Updated: 01/09/2021
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