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5137 Woodmeadow Court Garland, TX 75043

3 Beds 2 Baths 1,747 sqft Built 1981

$209,999

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $120.21
  • 2 Days on Market
  • MLS # : 14477619
  • Updated Date : 12/05/2020 at 10:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,747 sqft
  • Baths : 2 full
Listing Agent

Halo Group Realty, Llc

Listing Agent's Description

This beautiful 3 bedroom 2 bath property has been completely updated and is ready for a new homer! Home has fresh paint throughout and all new lighting fixtures with new vinyl flooring, and new carpet in bedrooms. Kitchen has been updated with new granite counter tops, back splash, new oven range and dish washer. Both the master and guest bathrooms have been completely remodeled as well. Large backyard with huge patio, and brand new fence. Brand new garage door. Listing agent is also the owner.

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: La Prada

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: La Prada

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
 

$188,999$230,999$209,999

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$775
Property Tax -$494
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
$94

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.

$209,999

PROJECTED PRICE

$1,590

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,499
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$19,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5493$1,5904$1,6355$1,745
$1,745
RENT COMPS ANALYSIS
  • 5137 Woodmeadow Court Garland, TX 3
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.91
    •  
  • 438 Wildbriar Drive Garland, TX 1
    • 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,574 Sqft ∙ Built 1969
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.94
    •  
  • 730 Santiago Drive Garland, TX 2
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1986
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.94
    •  
  • 229 Los Santos Drive Garland, TX 4
    • 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,900 Sqft ∙ Built 1980
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,635
    • $0.86
    •  
  • 413 Quintana Drive Garland, TX 5
    • 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,886 Sqft ∙ Built 1978
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.93
    •  
PROPERTY LISTING DETAILS
Michael King
Halo Group Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477619
Last Updated: 12/05/2020
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