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4309 Exeter Drive Garland, TX 75043

5 Beds 4 Baths 3,422 sqft Built 2001

$429,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $125.37
  • 1 Days on Market
  • MLS # : 14532543
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,422 sqft
  • Baths : 3 full , 1 half
Listing Agent

Dream Homes Realty

Listing Agent's Description

Welcome to this beautiful 4 bdr plus study home nestled in a private gated community overlooking Lake Ray Hubbard, minutes from I30, George Bush and the new Sapphire Bay development at Lake Ray Hubbard. The high ceiling wood floored living area has an open floor plan with the kitchen and breakfast area. Custom textured and faux finished formal living and dining rooms. The master bedroom oasis features a large walk in closet and master bath with separate vanities, jetted tub, and a separate shower with a bench. The second floor has a large living area or game room along with 3 bdrs and 2 full bathrooms. Great backyard with grown magnolia trees facing the lush greenbelt. Don’t miss out on this gem of a property!

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: Shores of Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $99k293k

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

Neighborhood: Shores of Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9402071

* 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
 

$386,100$471,900$429,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,490
Property Tax -$1,009
Property Insurance -$225
HOA -$73
Property Management Fees -$99
CASH FLOW
-$326

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.

$429,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.60%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,490

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,697

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,692

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,4003$2,5704$2,950
$2,950
RENT COMPS ANALYSIS
  • 4309 Exeter Drive Garland, TX 3
    • 5 beds 4 baths ∙ 3,422 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,422 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.75
    •  
  • 4323 Kettering Drive Garland, TX 1
    • 4 beds 3 baths ∙ 3,156 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,156 Sqft ∙ Built 2002
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 1405 Sunscape Way Garland, TX 2
    • 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
  • 4015 Norwich Drive Garland, TX 4
    • 5 beds 4 baths ∙ 3,381 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,381 Sqft ∙ Built 2002
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Santhosh Chacko
Dream Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532543
Last Updated: 03/13/2021
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