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4901 Freeport Drive Garland, TX 75043

4 Beds 2 Baths 2,141 sqft Built 1983

$239,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $111.63
  • 3 Days on Market
  • MLS # : 14475096
  • Updated Date : 11/20/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,141 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Light and bright with fresh paint and new flooring throughout. Updated 4 bedroom home on a large corner lot. Welcoming space as you enter the front door that is perfect for entertaining and makes for a nice formal dining and living. Vaulted ceilings, brick fireplace and built in bookcases accent the family room. Great kitchen with painted cabinets and updated countertops. Spacious master bedroom with updated master bath, walk in tile shower and his and her sinks plus a cool barn door. Great location with easy access to I-30.

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: Crystal

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Crystal

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9401734

* 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
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$882
Property Tax -$562
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
$46

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.

$239,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.73%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$16,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7253$1,7404$1,8495$1,895
$1,895
RENT COMPS ANALYSIS
  • 4901 Freeport Drive Garland, TX 3
    • 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.81
    •  
  • 4501 Alderney Drive Garland, TX 1
    • 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2001
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 5422 Peninsula Garland, TX 2
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 1983
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.86
    •  
  • 5309 Brookport Drive Garland, TX 4
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1984
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.87
    •  
  • 4610 Candlestick Drive Garland, TX 5
    • 3 beds 3 baths ∙ 2,189 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,189 Sqft ∙ Built 1981
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brigitte Barkley
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475096
Last Updated: 11/20/2020
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