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613 Cedarwood Drive Keller, TX 76248

4 Beds 3 Baths 2,556 sqft Built 1999

$350,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $136.93
  • 3 Days on Market
  • MLS # : 14481074
  • Updated Date : 12/12/2020 at 14:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,556 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Open House Saturday 2-4 at this move in ready home right in the heart of Keller. Sellers have done everything for you. Home features new paint throughout, granite countertops in kitchen with freshly painted white cabinets, new appliances and remodeled bathrooms . You have four bedrooms, two and half bath, formal dinning, game room and POOL size backyard. Formal dinning could easily be used as a home office. Soaring ceilings in the living room with wood floors, gas fireplace and lots of natural light. Master Retreat offers plenty of space for oversized furniture. Easy access to Carriage Gate community pool and park. Home sits in the Award Winning Keller ISD. This one won't last! SHOWINGS START AT OPEN HOUSE.

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: Carriage Gate

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Neighborhood: Carriage Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Willis Lane Elementary School Primary Regular 486 33 10
Indian Springs Middle School Middle Regular 869 53 8
Keller High School High Regular 2,645 145 10

Willis Lane Elementary School

  • Education Level: Primary
  • # of students: 486
  • # of teachers: 33
10
GreatSchools Rating

Indian Springs Middle School

  • Education Level: Middle
  • # of students: 869
  • # of teachers: 53
8
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,291
Property Tax -$734
Property Insurance -$175
HOA -$35
Property Management Fees -$99
CASH FLOW
$35

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.

$350,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$21,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,358

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3703$2,3854$2,3955$2,650
$2,650
RENT COMPS ANALYSIS
  • 613 Cedarwood Drive Keller, TX 2
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.93
    •  
  • 416 Roland Drive Keller, TX 1
    • 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,635 Sqft ∙ Built 1996
    property image
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 637 Cottonwood Trail Keller, TX 3
    • 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,563 Sqft ∙ Built 1995
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,385
    • $0.93
    •  
  • 620 Shady Bridge Lane Keller, TX 4
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 1999
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.91
    •  
  • 228 Carlow Court Keller, TX 5
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2006
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.98
    •  
PROPERTY LISTING DETAILS
Keely Harris
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481074
Last Updated: 12/12/2020
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