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7005 Calm Meadow Court Garland, TX 75044

3 Beds 4 Baths 3,430 sqft Built 2000

$495,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $144.31
  • 4 Days on Market
  • MLS # : 14510618
  • Updated Date : 02/06/2021 at 16:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,430 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. Accepting offers until noon on Monday Feb 8. Timeless Craftsman Style Architecture on a STUNNING Creekside lot. Custom built home located in a cul de sac and surrounded by towering trees. Lots of love has gone into the outdoors with mature landscaping, lighting, and several seating areas out back. Outdoor kitchen and Fireplace are under a steel pergola draped with wysteria vines. Also has an area wired for a hot tub. This place is truly magical and will not disappoint! This is a unique opportunity to be one of only 18 homes in this exclusive and established community.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Greens North

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $99k431k

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

Neighborhood: The Greens North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9402893

* 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
 

$445,500$544,500$495,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,719
Property Tax -$1,164
Property Insurance -$225
HOA -$29
Property Management Fees -$99
CASH FLOW
-$667

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.

$495,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.52%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$23

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,795

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5703$2,6004$2,8505$2,850
$2,850
RENT COMPS ANALYSIS
  • 7005 Calm Meadow Court Garland, TX 2
    • 3 beds 4 baths ∙ 3,430 Sqft ∙ Built 2000 3 beds 4 baths ∙ 3,430 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.75
    •  
  • 5713 New Castle Drive Richardson, TX 1
    • 4 beds 4 baths ∙ 3,188 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,188 Sqft ∙ Built 2007
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 4416 Greenfield Drive Richardson, TX 3
    • 4 beds 4 baths ∙ 3,184 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,184 Sqft ∙ Built 2001
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.82
    •  
  • 3617 Gloucester Road Richardson, TX 4
    • 4 beds 4 baths ∙ 3,343 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,343 Sqft ∙ Built 2019
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.85
    •  
  • 5717 Sweetbriar Drive Richardson, TX 5
    • 4 beds 4 baths ∙ 3,510 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,510 Sqft ∙ Built 2002
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jason Castro
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510618
Last Updated: 02/06/2021
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