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6508 Garlinghouse Lane Dallas, TX 75252

3 Beds 2 Baths 2,318 sqft Built 1981

$410,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $176.88
  • 3 Days on Market
  • MLS # : 14465712
  • Updated Date : 11/12/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,318 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Plano

Listing Agent's Description

Beautiful home located in the Preston Highlands neighborhood, 3 bedroom 2 bath completely updated and ready to move in. This house has beautiful hand scraped hardwood floors, two living areas, two dining areas. A very large master bedroom and beautiful master bathroom. This location has easy access to George Bush, walking and running trails and city parks. This house won't 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: 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,513
Property Tax -$810
Property Insurance -$161
HOA -$15
Property Management Fees -$99
CASH FLOW
-$347

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.

$410,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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$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$6.0k$8.0k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,301

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,3254$2,4255$2,450
$2,450
RENT COMPS ANALYSIS
  • 6508 Garlinghouse Lane Dallas, TX 2
    • 3 beds 2 baths ∙ 2,318 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,318 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
  • 19115 Windmill Lane Dallas, TX 1
    • 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
    •  
  • 6508 Wrenwood Drive Dallas, TX 3
    • 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
    •  
  • 18516 Shelton Way Dallas, TX 4
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1992
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,425
    • $1.03
    •  
  • 6519 Garlinghouse Lane Dallas, TX 5
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 1979
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lauren Rea
Jp & Associates Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465712
Last Updated: 11/12/2020
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