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

5614 Remington Drive Garland, TX 75044

3 Beds 3 Baths 2,509 sqft Built 1998

$374,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $149.42
  • 2 Days on Market
  • MLS # : 14490639
  • Updated Date : 12/26/2020 at 18:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,509 sqft
  • Baths : 2 full , 1 half
Listing Agent

Global Realty

Listing Agent's Description

Location, Location, Location!!! Close to GBH & 75 Central. Gorgeous home with 3-Bedrooms, 3-Living areas, downstairs study by half bath could be 4th bedroom. Vaulted ceilings, lots of natural light, tons of new upgrades. Roomy & upgraded kitchen has Granit Countertops & New Appliances, Also the kitchen has lots of cabinets & center island, open to Den & Breakfast; huge utility, butler's pantry. Upstairs has a big Game Room; Master has private sitting area, big closet, jetted tub, separate shower & his-n-hers vanities. Bedroom 2 has own vanity & big walk in closet. Roof is only 5-Years old. New AC System (less 2-Years old). New Vinyl floors, new paint & Custom made Blinds throughout the house...Wont last long.

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: Estates of Shiloh Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k304k

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

Neighborhood: Estates of Shiloh Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9402173

* 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
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,383
Property Tax -$881
Property Insurance -$172
HOA -$9
Property Management Fees -$99
CASH FLOW
-$435

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.

$374,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,133

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1003$2,1104$2,2005$2,348
$2,348
RENT COMPS ANALYSIS
  • 5614 Remington Drive Garland, TX 3
    • 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,509 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.84
    •  
  • 5714 Wyrick Lane Garland, TX 1
    • 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 1983
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 5217 Glen Vista Drive Garland, TX 2
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1992
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 6922 Clear Springs Circle Garland, TX 4
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 1990
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 7034 Clear Springs Circle Garland, TX 5
    • 3 beds 3 baths ∙ 2,582 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,582 Sqft ∙ Built 1992
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,348
    • $0.91
    •  
PROPERTY LISTING DETAILS
Adil Abdullah
Global Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490639
Last Updated: 12/26/2020
BESbswy