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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $163.16
- 2 Days on Market
- MLS # : 14516673
- Updated Date : 02/20/2021 at 19:00
CONSTRUCTION
- Beds : 5
- Floor Size : 3,371 sqft
- Baths : 3 full , 1 half
Listing Agent
Foster Loria, Realtors, Inc.
Listing Agent's Description
Gorgeous home in Beautiful SpringPark neighborhood *SpringPark is a Raymond Nasher inspired planned community that integrated homes into the rolling knolls & creekside of Spring Creek in far North Dallas County * This home features 5 roomy bedrooms & 3.5 baths plus a 9 x 12 flex room *Master bedroom is downstairs *Beautiful gas log fireplace in both living areas *Plenty of closet & storage thru out *Kitchen has an abundance of cabinet space, granite countertops, an island, & SS appliances *Lovely outdoor living space - pool, hot tub, pergola, & built-in grill area * Hardwood floors in Living, Dining, & Master BR *The SpringPark neighborhood offers a Pool, tennis courts, parks, lake, pond, greenbelts, and more
SEE MORE
- 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: Spring Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,540 |
| EXPENSES | Loan Payment | -$1,910 |
| Property Tax | -$1,293 | |
| Property Insurance | -$222 | |
| HOA | -$82 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$1,066
|
||
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.
$550,000
PROJECTED PRICE
$2,540
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
-0.25
YEARS SAVED
-$54
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,540
LIST RENT -
$0.75
LIST RENT PER SQFT
-
$2,629
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
7506 Fitchburg Avenue Garland, TX 4
- 5 beds 4 baths ∙ 3,371 Sqft ∙ Built 1990 5 beds 4 baths ∙ 3,371 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $2,540
- $0.75
-
7410 Woodsprings Drive Garland, TX 1
- 4 beds 4 baths ∙ 3,254 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,254 Sqft ∙ Built 2001
LEASED 08/20/20- Rent
- Rent Per SQFT
- $2,400
- $0.74
-
2310 Windsor Drive Richardson, TX 2
- 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 1981 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 1981
LEASED 02/27/20- Rent
- Rent Per SQFT
- $2,500
- $0.82
-
7314 Woodsprings Drive Garland, TX 3
- 4 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,481 Sqft ∙ Built 2000
LEASED 05/28/20- Rent
- Rent Per SQFT
- $2,500
- $0.72
-
3001 Wren Lane Richardson, TX 5
- 4 beds 3 baths ∙ 3,382 Sqft ∙ Built 1988 4 beds 3 baths ∙ 3,382 Sqft ∙ Built 1988
LEASED 06/22/20- Rent
- Rent Per SQFT
- $2,850
- $0.84
PROPERTY LISTING DETAILS
Foster Loria, Realtors, Inc.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14516673
Last Updated: 02/20/2021
