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6411 Garlinghouse Lane Dallas, TX 75252

4 Beds 3 Baths 2,354 sqft Built 1980

INVESTimate

$390,000

List Price

$2,200

$1,980 - $2,420

Rent Est.

$410,904  ( +5.36%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $165.68
  • 6 Days on Market
  • MLS # : 14418353
  • Updated Date : 08/25/2020 at 17:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,354 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Come live your best life for less! This sought after Preston Highlands home features a 4th split bedroom or Study option, you choose. The living room is a park 2 car garage in huge with wood like ceramic tile flooring that extends into hallways, and kitchen and dining. There's a built in Tv cabinet in liv room that will remain with home. You'll find a Beadboard ceilings in kitchen and den that you just have to see to believe . Shaker cabinets with granite counters and window seals, Noch Travertine backsplash and undermount sink plus Built in hutch completes the kitchen. There's a outdoor living space that's 15x15 completely covered plus offering a skylight you'll enjoy year round. Open Sunday from 3-5 come see!

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: Preston Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $102k408k

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

Neighborhood: Preston Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9472788

* 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
Jackson Elementary School Primary Regular 594 54 6
Frankford Middle School Middle Regular 1,122 72 6
Plano West Senior High School High Regular 2,896 165 7

Jackson Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 54
6
GreatSchools Rating

Frankford Middle School

  • Education Level: Middle
  • # of students: 1,122
  • # of teachers: 72
6
GreatSchools Rating

Plano West Senior High School

  • Education Level: High
  • # of students: 2,896
  • # of teachers: 165
7
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,439
Property Tax -$770
Property Insurance -$163
HOA -$15
Property Management Fees -$99
CASH FLOW
-$286

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.

$390,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.36%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,189

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1954$2,2005$2,325
$2,325
RENT COMPS ANALYSIS
  • 6411 Garlinghouse Lane Dallas, TX 4
    • 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,354 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
  • 6407 Genstar Lane Dallas, TX 1
    • 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 1980
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 19115 Windmill Lane Dallas, TX 2
    • 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,218 Sqft ∙ Built 1982
    property image
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 6520 Wrenwood Drive Dallas, TX 3
    • 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,411 Sqft ∙ Built 1979
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
  • 6508 Wrenwood Drive Dallas, TX 5
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1979
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ben Baker
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418353
Last Updated: 08/25/2020
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