Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

510 Basswood Trail Garland, TX 75040

5 Beds 4 Baths 4,450 sqft Built 2006

$425,000

List Price

$3,110

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $95.51
  • 3 Days on Market
  • MLS # : 14485128
  • Updated Date : 12/11/2020 at 19:19
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,450 sqft
  • Baths : 4 full
Listing Agent

Tong-parsons Realty

Listing Agent's Description

Prefect for a family with Master bedroom and one guest room down. No carpet on the first floor. Large formal dining, living, and huge 2-story family room. Kitchen has plenty cabinets for storage. New paint wood floor and walls. Double oven, fans in the kitchen, glass door cabinets, granite countertop. Two bedrooms with jack n jill bath. One bedroom has its full bath. Oversized game room for a pool table next to a media room. Bonus sunroom and electrical gate fence door. New roof and microwave 2020, New faucets in secondary baths, HVAC compressor 2019, water heater 2018 and fence 2018. Refrigerator stays.

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: Hidden Forest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $88k387k

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

Neighborhood: Hidden Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9402338

* 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,799$3,421$3,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,110
EXPENSES Loan Payment -$1,568
Property Tax -$999
Property Insurance -$284
HOA -$30
Property Management Fees -$99
CASH FLOW
$129

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.

$425,000

PROJECTED PRICE

$3,110

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.1%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$30,696

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,110

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $3,115

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,110
$3,110
RENT COMPS ANALYSIS
  • 510 Basswood Trail Garland, TX 2
    • 5 beds 4 baths ∙ 4,450 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,450 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,110
    • $0.70
    •  
  • 3209 Redcliff Lane Garland, TX 1
    • 5 beds 4 baths ∙ 4,231 Sqft ∙ Built 2013 5 beds 4 baths ∙ 4,231 Sqft ∙ Built 2013
    property image
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.70
    •  
PROPERTY LISTING DETAILS
Shuwen Cai
Tong-parsons Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485128
Last Updated: 12/11/2020
BESbswy