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6609 Lynch Lane Garland, TX 75044

4 Beds 3 Baths 2,589 sqft Built 1994

$399,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $154.46
  • 6 Days on Market
  • MLS # : 14455741
  • Updated Date : 11/02/2020 at 16:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,589 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Town & Country

Listing Agent's Description

Picturesque home with golf course views in highly sought after Greens Subdivision. Picture yourself lounging by your custom Hobert pool as you watch the sunset to the west over the golf course. Entertain outside with your outdoor kitchen or opt for an indoor event with your new stainless steel appliances. This large open concept eat-in kitchen with gorgeous granite is hard to miss. Main entry opens up to formal dining and living space. Owner's suite is on main floor with large soaking tub and separate shower and large walk-in closet. Large guest rooms all upstairs for privacy. This home is move-in ready. Live the life you've dreamed in the Greens. Home includes TV, sound bar, outdoor furniture and umbrella.

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: 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
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,475
Property Tax -$893
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
-$490

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.

$399,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.54%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$210

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,307

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2004$2,2955$2,500
$2,500
RENT COMPS ANALYSIS
  • 6609 Lynch Lane Garland, TX 2
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.86
    •  
  • 1321 Kilkee Court Garland, TX 1
    • 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,288 Sqft ∙ Built 1985
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 705 Weeping Willow Road Garland, TX 3
    • 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1999
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 5709 Eaglebend Drive Richardson, TX 4
    • 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,714 Sqft ∙ Built 2001
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
  • 1113 Kent Brown Road Garland, TX 5
    • 3 beds 2 baths ∙ 2,521 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,521 Sqft ∙ Built 2010
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Marissa Bishop
Re/max Town & Country
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455741
Last Updated: 11/02/2020
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