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6718 Rutledge Road Garland, TX 75044

4 Beds 3 Baths 3,759 sqft Built 2015

$575,000

List Price

$2,820

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $152.97
  • 3 Days on Market
  • MLS # : 14494688
  • Updated Date : 01/15/2021 at 09:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,759 sqft
  • Baths : 2 full , 1 half
Listing Agent

Colleen Frost Real Estate Serv

Listing Agent's Description

Situated on a secluded cul-de-sac street near the lake, this home is perfect for a growing family! Interior features include hand-scraped hardwood floors, SS appliances, built in cabinets, and so much more! Contemporary finishes throughout. Master Suite features hardwood floors, large windows, crown moulding, barn door entry to the master bath. Upon entering the bath, his and hers sinks, gorgeous tile floors continuing into the walk in shower, and plenty of storage! Upstairs you'll find a generous game room with built in cubbies and cabinets, media room, and large secondary bedrooms with jack and jill bath. The large backyard overlooks the walking trail! Don't miss this great opportunity!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Crystal Falls

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k463k

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

Neighborhood: Crystal Falls

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9402851

* 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
Big Springs Elementary School Primary Regular 387 28 8
Big Springs Elementary School Middle Regular 387 28 8
Berkner High School High Regular 2,494 174 4

Big Springs Elementary School

  • Education Level: Primary
  • # of students: 387
  • # of teachers: 28
8
GreatSchools Rating

Big Springs Elementary School

  • Education Level: Middle
  • # of students: 387
  • # of teachers: 28
8
GreatSchools Rating

Berkner High School

  • Education Level: High
  • # of students: 2,494
  • # of teachers: 174
4
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,538$3,102$2,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,820
EXPENSES Loan Payment -$1,997
Property Tax -$1,352
Property Insurance -$244
HOA -$71
Property Management Fees -$99
CASH FLOW
-$943

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.

$575,000

PROJECTED PRICE

$2,820

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.3%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,997

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,820

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,866

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6003$2,6954$2,8205$2,950
$2,950
RENT COMPS ANALYSIS
  • 6718 Rutledge Road Garland, TX 4
    • 4 beds 3 baths ∙ 3,759 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,759 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,820
    • $0.75
    •  
  • 4112 Tabernash Richardson, TX 1
    • 5 beds 4 baths ∙ 3,639 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,639 Sqft ∙ Built 2000
    LEASED 01/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.71
    •  
  • 4116 Elk Springs Trail Richardson, TX 2
    • 5 beds 4 baths ∙ 3,550 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,550 Sqft ∙ Built 2001
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.73
    •  
  • 3020 Cotters Circle Richardson, TX 3
    • 4 beds 3 baths ∙ 3,514 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,514 Sqft ∙ Built 2003
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.77
    •  
  • 1232 Winding Brook Drive Garland, TX 5
    • 4 beds 3 baths ∙ 3,520 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,520 Sqft ∙ Built 2007
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.84
    •  
PROPERTY LISTING DETAILS
Colleen Frost
Colleen Frost Real Estate Serv
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494688
Last Updated: 01/15/2021
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