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4913 Portola Drive Garland, TX 75043

3 Beds 2 Baths 2,020 sqft Built 1986

$260,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $129.16
  • 2 Days on Market
  • MLS # : 14467663
  • Updated Date : 11/07/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,020 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

WARM AND INVITING SINGLE-STORY, 3 BEDROOM, 2 BATHROOM HOME IN THE HEART OF GARLAND! Prepare meals in the chef’s kitchen boasting tons of counter space and stainless steel appliances. At the end of the day, escape to the primary suite featuring a separate shower, jetted tub, and two walk-in closets. Enjoy the Texas weather on the massive deck and the spacious backyard. Great location close to Lake Ray Hubbard, Lakeview Centennial High School, and Rosehill Park! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: Golden Gate Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: Golden Gate Park

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
 

$234,810$286,990$260,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$963
Property Tax -$613
Property Insurance -$144
Property Management Fees -$99
CASH FLOW
-$169

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.

$260,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,889

INVESTMENT

$74,889

Down Payment
$65,225
Rehab Estimate
$5,750
Closing Costs
$3,914

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$963

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,225
Loan Amount $195,675
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,915

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,7255$1,825
$1,825
RENT COMPS ANALYSIS
  • 4913 Portola Drive Garland, TX 2
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 1912 Lombard Garland, TX 1
    • 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,831 Sqft ∙ Built 1987
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 3414 Shoreside Drive Garland, TX 3
    • 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,955 Sqft ∙ Built 1987
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 1426 Buena Vista Avenue Garland, TX 4
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1985
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.94
    •  
  • 1818 Knob Hill Drive Garland, TX 5
    • 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,948 Sqft ∙ Built 1992
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.94
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467663
Last Updated: 11/07/2020
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