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7002 Troy Glen Drive Dallas, TX 75241

3 Beds 2 Baths 1,422 sqft Built 1986

$174,999

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $123.07
  • 2 Days on Market
  • MLS # : 14481214
  • Updated Date : 12/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,422 sqft
  • Baths : 2 full
Listing Agent

Foxy Real Estate, Llc

Listing Agent's Description

House for sale in Dallas, beautiful rock siding, excellent price, 3 bedrooms and 2 bathrooms. Lots of space. Lots of upgrades: New roof, new HVAC units, new water heater and much more!

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: Singing Hills

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $69k243k

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

Neighborhood: Singing Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7821734

* 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
Robert L. Thornton Elementary School Primary Regular 476 30 4
Boude Storey Middle School Middle Regular 703 49 2
South Oak Cliff High School High Regular 1,319 86 2

Robert L. Thornton Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 30
4
GreatSchools Rating

Boude Storey Middle School

  • Education Level: Middle
  • # of students: 703
  • # of teachers: 49
2
GreatSchools Rating

South Oak Cliff High School

  • Education Level: High
  • # of students: 1,319
  • # of teachers: 86
2
GreatSchools Rating
 

$157,499$192,499$174,999

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$646
Property Tax -$415
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$101

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.

$174,999

PROJECTED PRICE

$1,370

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 13.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,249
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$17,607

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,415

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3753$1,3954$1,4005$1,600
$1,600
RENT COMPS ANALYSIS
  • 7002 Troy Glen Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.96
    •  
  • 1441 Quartet Drive Dallas, TX 2
    • 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,319 Sqft ∙ Built 1973
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.04
    •  
  • 1469 Laura Lane Dallas, TX 3
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1973
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 1514 Cover Drive Dallas, TX 4
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2003
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 1618 Duet Drive Dallas, TX 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2004
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
PROPERTY LISTING DETAILS
Marilu Gonzalez
Foxy Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481214
Last Updated: 12/05/2020
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