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This page contains aggregated information about each property, and is not intended to serve as an appraisal. Projections for accumulated wealth, cash flow and equity are based on predictive models used to analyze big data on more than 110 million homes. Learn more about INVESTimate

3617 Summit Ln Garland, TX 75042

3 Beds 2 Baths 2,142 sqft Built 1970
Last updated:  Jun 30, 2018

INVESTimate

$204,068

$193K - $216K

Price Est.

$1,607

$1.5K - $1.7K

Rent Est.

$223,148  ( +9.35%)   1 YR EST. FORECAST
  
  
  

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3617 Summit Ln PROPERTY INFO

FACTS
  • Built In 1970
  • Price/Sqft : $95.27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,142 sqft
  • Baths : 2 Full

3617 Summit Ln SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
HILLSIDE ACADEMY FOR EXCEL Primary Magnet 446 29 10
CLASSICAL CENTER AT BRANDENBURG MIDDLE SCHOOL Middle Magnet 1,153 62 8
SACHSE HIGH SCHOOL High Regular 2,609 152 7

HILLSIDE ACADEMY FOR EXCEL

  • Education Level: Primary
  • # of students: 446
  • # of teachers: 29
10
GreatSchools Rating

CLASSICAL CENTER AT BRANDENBURG MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 1,153
  • # of teachers: 62
8
GreatSchools Rating

SACHSE HIGH SCHOOL

  • Education Level: High
  • # of students: 2,609
  • # of teachers: 152
7
GreatSchools Rating
 

Financial Details

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Neighborhood

Crest Park Estates

  • 1,059

    POPULATION
  • 261

    HOUSEHOLDS
  • 27.1%

    WHITE COLLAR

Neighborhood : Crest Park Estates

HOUSEHOLDS
261
POPULATION

1,059

31.8%Renters
68.2%Home Owners
LABOR FORCE

 

27.1%White Collar
72.9%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 31% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,607 per month.

MY RENT : $1,607 MEDIAN RENT : $1,446

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 69.3%
>=$1,500 30.7%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $1,607 would therefore be considered affordable for annual household incomes greater than $64,280 (12 months x 3.333 x $1,607).

Rent % Affordability
Above $500 89.3%
Above $700 83.3%
Above $1,100 62.0%
Above $1,500 54.8%
Above $1,900 37.2%
HOUSEHOLD INCOME RANGE

Approximately 86 of households in this neighborhood have a total annual income of $64,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,607 per month.

MINIMUM INCOME RANGE : $64,280

Income % Distribution
<$20K 10.7%
$20K-$35K 17.6%
$35K-$60K 16.9%
$60K-$100K 34.1%
>=$100K 20.7%
COMMUTE TIME DISTRIBUTION

68% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 8% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.7%
5-9 mins 4.5%
10-14 mins 14.3%
15-19 mins 7.5%
20-29 mins 34.8%
30-44 mins 25.9%
45-59 mins 8.3%
>60 mins 0.0%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 31% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,607 per month.

MY RENT : $1,607 MEDIAN RENT : $1,446

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 69.3%
>=$1,500 30.7%
Household Rent Affordability

According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $1,607 would therefore be considered affordable for annual household incomes greater than $64,280 (12 months x 3.333 x $1,607).

Rent % Affordability
Above $500 89.3%
Above $700 83.3%
Above $1,100 62.0%
Above $1,500 54.8%
Above $1,900 37.2%
HOUSEHOLD INCOME RANGE

Approximately 86 of households in this neighborhood have a total annual income of $64,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,607 per month.

MINIMUM INCOME RANGE : $64,280

Income % Distribution
<$20K 10.7%
$20K-$35K 17.6%
$35K-$60K 16.9%
$60K-$100K 34.1%
>=$100K 20.7%
COMMUTE TIME DISTRIBUTION

68% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 8% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.7%
5-9 mins 4.5%
10-14 mins 14.3%
15-19 mins 7.5%
20-29 mins 34.8%
30-44 mins 25.9%
45-59 mins 8.3%
>60 mins 0.0%

Crest Park Estates Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 12.1%
Construction 16.4%
Educational Services 16.4%
Health Care & Social Assistance 4.5%
Manufacturing 23.1%
Retail & Wholesale Trader 6.0%
Other 21.6%
AGE DISTRIBUTION

50% of the population is between the ages of 25 and 64, 39% is 24 or younger and 12% is 65 or older.

Age % Distribution
<15 27.4%
15-19 3.5%
20-24 7.7%
25-44 24.3%
45-65 25.5%
66+ 11.6%
OCCUPATION

Occupation % Distribution
Clean 16.6%
Construction 9.9%
Natural Resources Maintenance 23.9%
PCare 7.2%
Production & Transportation 23.1%
Sales & Office 13.9%
Other 5.4%
HIGHEST EDUCATION LEVEL

12% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 11.4%
Doctorate 1.1%
High School 22.9%
Some College 22.5%
Some High School 31.2%
Other 10.9%

3617 Summit Ln Comps

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3617 Summit Ln, Garland, TX 75042 is a single family home of 2,142 sqft. HomeUnion INVESTimate® for 3617 Summit Ln includes a Price Estimate of $204,068 and a Rent Estimate of $1,607. This single family home has 3 bedrooms,2 bathrooms, and was built in 1970. This property has an estimated 15 year annualized Yield of 9.45% and Total Return of 27.47%. The estimated 1 year forecast in home value for 3617 Summit Ln is 9.35%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in TX, DALLAS County, or the 75042 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2