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4726 Maritime Cove Garland, TX 75043

3 Beds 3 Baths 2,358 sqft Built 2004

$320,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $135.71
  • 2 Days on Market
  • MLS # : 14541556
  • Updated Date : 03/27/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,358 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Central

Listing Agent's Description

A well-maintained traditional, 2 story home just minutes away from Lake Ray Hubbard. It boasts neutral colors throughout and so fitting for your preferred color scheme. The formal dining is functional as an office as well. The family room provides a versatile eat-in kitchen. The spacious bedrooms are all conveniently located upstairs for a rest and relaxation as necessary. The automatic gate and corner lot provide easy access and a spacious view. Roof 2016, Microwave 2016, Fence 2019, HVAC 2020, Stove 2021 & Water Heater 2021, Fresh Paint! This home is ready for your visit.

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: Highport Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k295k

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

Neighborhood: Highport Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9402135

* 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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,111
Property Tax -$752
Property Insurance -$163
HOA -$28
Property Management Fees -$99
CASH FLOW
-$304

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$320,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$415

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,004

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8493$1,8504$1,8505$2,050
$2,050
RENT COMPS ANALYSIS
  • 4726 Maritime Cove Garland, TX 4
    • 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 4126 Carrington Drive Garland, TX 1
    • 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 2002
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 5309 Brookport Drive Garland, TX 2
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1984
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.87
    •  
  • 5318 Oceanport Drive Garland, TX 3
    • 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2016
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 4805 Kelso Place Garland, TX 5
    • 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 2019
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
PROPERTY LISTING DETAILS
Marissa Seim
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14541556
Last Updated: 03/27/2021
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