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1001 Barn Owl Drive Little Elm, TX 75068

5 Beds 4 Baths 3,192 sqft Built 2010

$375,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $117.48
  • 4 Days on Market
  • MLS # : 14515690
  • Updated Date : 03/04/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,192 sqft
  • Baths : 4 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Gorgeous Home Situated on an Over-Sized Corner Lot, Offers an Abundance of Space Inside & Out. 5 Bedrm, 4 Bath, 3 Car Gar + Formal Dining, Media & Game Rms Shows Full Pride of Ownership with its Beautiful Curb Appeal, Professional Landscaping & Popular Design Elements. Stunning Hardwood Flrs Draws the Eye when you Enter the Home. You will Love the Gourmet Kitchen Complete wGranite, Gas Cooking, Tons of Cabinets, Lrg Island wBreakfast Bar & Built-In Desk Area. Spacious Master Suite & 5th Bdrm or Study Downstairs + Full Bath. Secondary Bdrms are Roomy! Spectacular Screened In Sun Rm Leads to the Private Backyard Perfect for Summer Entertaining! Move in Ready! Close to 380, Schools & Shopping. Storage Shed Stays!

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: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Paloma Creek Elementary School Primary Regular 670 41 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Paloma Creek Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 41
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,303
Property Tax -$786
Property Insurance -$212
HOA -$31
Property Management Fees -$99
CASH FLOW
-$100

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.

$375,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,186

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,266

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1503$2,2004$2,2505$2,330
$2,330
RENT COMPS ANALYSIS
  • 1001 Barn Owl Drive Little Elm, TX 5
    • 5 beds 4 baths ∙ 3,192 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,192 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.73
    •  
  • 1528 Canary Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 2006
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.67
    •  
  • 1008 Water Garden Circle Little Elm, TX 2
    • 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 817 Lake Worth Trail Little Elm, TX 3
    • 4 beds 4 baths ∙ 3,040 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,040 Sqft ∙ Built 2006
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.72
    •  
  • 1433 Sparrow Drive Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,037 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,037 Sqft ∙ Built 2005
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
PROPERTY LISTING DETAILS
Tammy Watson
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515690
Last Updated: 03/04/2021
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