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4314 Carrington Drive Garland, TX 75043

4 Beds 4 Baths 2,959 sqft Built 2003

$329,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $111.19
  • 2 Days on Market
  • MLS # : 14481484
  • Updated Date : 12/05/2020 at 23:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,959 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jp & Associates Plano

Listing Agent's Description

Beautiful and well maintained 2 story home in the private community of Shores of Wellington, just walking distance to Lake Ray Hubbard and community amenities! Home offers a spacious kitchen with plenty of cabinet and counter space, walk in pantry, stainless steel LG appliances, double oven, eat in bar, and opens to large living area which is perfect for family cooking and entertaining. Other features include engineered wood floors throughout main living areas, ceramic title, elegant wrought iron light fixtures, beautiful wood staircase and a private master suite downstairs! You will love the oversized backyard with covered patio overlooking beautiful trees, don't miss this opportunity this home has it all!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: The Shores of Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $99k297k

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

Neighborhood: The Shores of Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9402206

* 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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,214
Property Tax -$773
Property Insurance -$198
HOA -$42
Property Management Fees -$99
CASH FLOW
-$126

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.

$329,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

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

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$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,317

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,278

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$2,135
1$2,1352$2,2003$2,2004$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 4314 Carrington Drive Garland, TX 3
    • 4 beds 4 baths ∙ 2,959 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,959 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
  • 4017 Guthrie Road Garland, TX 1
    • 4 beds 3 baths ∙ 2,669 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,669 Sqft ∙ Built 2000
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,135
    • $0.80
    •  
  • 4129 Baccarat Drive Garland, TX 2
    • 4 beds 4 baths ∙ 2,791 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,791 Sqft ∙ Built 1993
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
  • 4323 Kettering Drive Garland, TX 4
    • 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 5
    • 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,170 Sqft ∙ Built 2002
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
PROPERTY LISTING DETAILS
Diana Campos
Jp & Associates Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481484
Last Updated: 12/05/2020
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