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4415 Carlton Drive Garland, TX 75043

4 Beds 3 Baths 3,280 sqft Built 2002

INVESTimate

$342,000

List Price

$2,280

$2,052 - $2,508

Rent Est.

$378,081  ( +10.55%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $104.27
  • 6 Days on Market
  • MLS # : 14416858
  • Updated Date : 08/24/2020 at 10:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,280 sqft
  • Baths : 2 full , 1 half
Listing Agent

Clay Stapp + Co

Listing Agent's Description

This versatile 4 bedroom 2.1 bath PLUS flex room used as a study is located in the Shores of Wellington steps from Lake Ray Hubbard. Many lovely touches throughout from the elegant curved staircase, grand windows and soaring ceilings that greet you at the entrance. The spacious kitchen oversees a large living room just waiting for its next family. Some features: Board on board 8ft Cedar privacy fence, 4 TON AC - 2016, Radiant Barrier and Insulation - 2015, 2 Nest Thermostats, everything you need for energy efficient living! Garage with extra 11x8ft space and overhead storage, sprinkler system, Coined polyvinyl garage floor, August Smart lock Pro, Novi Security system. Full list of features in MLS upload.

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: 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
 

$307,800$376,200$342,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,262
Property Tax -$804
Property Insurance -$217
HOA -$46
Property Management Fees -$99
CASH FLOW
-$148

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.

$342,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$96,380

INVESTMENT

$96,380

Down Payment
$85,500
Rehab Estimate
$5,750
Closing Costs
$5,130

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,262

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,500
Loan Amount $256,500
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,550

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2803$2,2954$2,3955$2,950
$2,950
RENT COMPS ANALYSIS
  • 4415 Carlton Drive Garland, TX 2
    • 4 beds 3 baths ∙ 3,280 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,280 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.70
    •  
  • 4114 Baywatch Drive Rowlett, TX 1
    • 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,011 Sqft ∙ Built 1995
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 1414 Sunscape Way Garland, TX 3
    • 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,134 Sqft ∙ Built 2002
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.73
    •  
  • 1608 Hill Creek Drive Garland, TX 4
    • 4 beds 3 baths ∙ 3,076 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,076 Sqft ∙ Built 1996
    property image
    LEASED 03/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.78
    •  
  • 4015 Norwich Drive Garland, TX 5
    • 5 beds 4 baths ∙ 3,381 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,381 Sqft ∙ Built 2002
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Barbara Arredondo
Clay Stapp + Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416858
Last Updated: 08/24/2020
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