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6406 Limerick Lane Garland, TX 75044

4 Beds 3 Baths 2,651 sqft Built 1992

$345,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $130.14
  • 2 Days on Market
  • MLS # : 14478289
  • Updated Date : 12/05/2020 at 16:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,651 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Central

Listing Agent's Description

WOW! Fantastic opportunity to purchase an updated ONE STORY home near Firewheel Golf Park and Breckinridge Park featuring abundant open space and trails for an active lifestyle! Great living space in this house with 2 huge living rooms as well as extended patio perfect for outdoor living space. Private master suite features exterior door to patio. Secondary bedrooms share a dual sink bathroom & sit in a quiet corner of the house with privacy door from living room to hallway. BONUS room off the kitchen makes a great study, craft, workout room or even 5th bedroom with small storage closet. Huge laundry room, half bath, exterior door from garage to back patio are just a few more bonus features in this house!

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: Greens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $99k372k

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

Neighborhood: Greens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9402304

* 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,273
Property Tax -$811
Property Insurance -$180
Property Management Fees -$99
CASH FLOW
-$173

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.

$345,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.4%
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$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$8.0k

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,247

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,190
1$2,1902$2,1953$2,2504$2,2955$2,400
$2,400
RENT COMPS ANALYSIS
  • 6406 Limerick Lane Garland, TX 1
    • 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,651 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.83
    •  
  • 1404 Westgate Drive Sachse, TX 2
    • 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,671 Sqft ∙ Built 1998
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 2808 Glenwick Court Richardson, TX 3
    • 5 beds 3 baths ∙ 2,712 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,712 Sqft ∙ Built 1997
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
  • 5709 Eaglebend Drive Richardson, TX 4
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2001
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
  • 5703 Southampton Drive Richardson, TX 5
    • 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,708 Sqft ∙ Built 1997
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
PROPERTY LISTING DETAILS
Julie Acuna
Keller Williams Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478289
Last Updated: 12/05/2020
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