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818 Green Pond Drive Garland, TX 75040

4 Beds 3 Baths 2,526 sqft Built 2004

$315,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $124.70
  • 3 Days on Market
  • MLS # : 14481535
  • Updated Date : 12/04/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,526 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

What a great find just in time for the new year! This spacious four bedroom, two and a half bath home in Charleston Commons has so much to offer. Kitchen boasts brand new Stainless steel appliances including side by side fridge! New granite countertops, new undercount sink and freshly painted, white cabinets. The kitchen overlooks the breakfast room and living room that has a wood burning fireplace and nice bright windows to the back yard. The master retreat is downstairs and offers two sinks, garden tub, separate shower and a large walk in closet. Upstairs you will find a gameroom, 3 good sized bedrooms and a full bath. Nestled in the Charleston Commons community close to schools, shopping and major roads!

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: Charleston Commons

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $88k310k

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

Neighborhood: Charleston Commons

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9402095

* 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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,162
Property Tax -$741
Property Insurance -$173
HOA -$20
Property Management Fees -$99
CASH FLOW
-$235

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.

$315,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.1%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,109

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9603$1,9754$2,0005$2,350
$2,350
RENT COMPS ANALYSIS
  • 818 Green Pond Drive Garland, TX 2
    • 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.78
    •  
  • 2709 Ridgemeade Drive Garland, TX 1
    • 4 beds 2 baths ∙ 2,381 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,381 Sqft ∙ Built 1996
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 2721 Grasmere Street Garland, TX 3
    • 4 beds 2 baths ∙ 2,398 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,398 Sqft ∙ Built 1996
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.82
    •  
  • 3608 Escabosa Drive Garland, TX 4
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2000
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
  • 3717 Queenswood Lane Garland, TX 5
    • 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 1985
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.88
    •  
PROPERTY LISTING DETAILS
Cathy George
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 #: 14481535
Last Updated: 12/04/2020
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