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724 Green Castle Drive Dallas, TX 75232

3 Beds 2 Baths 1,747 sqft Built 2017

$240,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $137.38
  • 6 Days on Market
  • MLS # : 14462646
  • Updated Date : 10/29/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,747 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Just Gorgeous! A fresh, modern home in a lovely, mature neighborhood. Wonderful, spacious kitchen with granite, SS appliances and island, super nice master suite with garden tub and separate shower. The backyard is awesome with a a big, lush lawn and a fantastic covered patio, perfect for cookouts. Close to downtown and easy access to to major highways.

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: Wolf Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Wolf Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9091734

* 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
Mark Twain Leadership Vanguard School Primary Magnet 368 30 3
William Hawley Atwell Law Academy Middle Magnet 834 68 2
David W. Carter High School High Regular 1,040 64 2

Mark Twain Leadership Vanguard School

  • Education Level: Primary
  • # of students: 368
  • # of teachers: 30
3
GreatSchools Rating

William Hawley Atwell Law Academy

  • Education Level: Middle
  • # of students: 834
  • # of teachers: 68
2
GreatSchools Rating

David W. Carter High School

  • Education Level: High
  • # of students: 1,040
  • # of teachers: 64
2
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$886
Property Tax -$577
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$120

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.

$240,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.6%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$3,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5003$1,5704$1,700
$1,700
RENT COMPS ANALYSIS
  • 724 Green Castle Drive Dallas, TX 3
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.90
    •  
  • 119 Los Cabos Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 2006
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
  • 4603 Idaho Avenue Dallas, TX 2
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 2020
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 3002 Alabama Avenue Dallas, TX 4
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2018
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
Michael Perry
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462646
Last Updated: 10/29/2020
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