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1001 Mist Flower Drive Little Elm, TX 75068

3 Beds 3 Baths 2,618 sqft Built 2017

INVESTimate

$369,900

List Price

$2,260

$2,034 - $2,486

Rent Est.

$397,901  ( +7.57%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $141.29
  • 6 Days on Market
  • MLS # : 14385730
  • Updated Date : 08/23/2020 at 16:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,618 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

**STUNNING NORTH FACING FRISCO HILLS HOME** **BETTER THAN NEW AND READY TO GO** Exemplary Frisco ISD! The open floor plan encompasses 3 spacious bedrooms with plenty of room for storage, 2.5 luxurious bathrooms + soaring ceilings all the way from foyer thru family room. Wood like ceramic tiles and upgraded carpet + game room and office. Media room which is all wired for surround sound for entertainment. Chef's dream kitchen that flows through to the breakfast nook. Tons of upgrades including wrought iron balusters, gorgeous granite counter-tops and SS appliances. Covered front porch and back patios. Nice size back yard for family to enjoy. Easy access to FM 423, Eldorado and DNT. Hurry won't last.

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR 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
Miller Elementary School Primary Regular NA
Trent Middle School Middle Regular NA
Memorial High School High Regular NA

Miller Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Trent Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Memorial High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

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$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,365
Property Tax -$775
Property Insurance -$178
HOA -$38
Property Management Fees -$99
CASH FLOW
-$195

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.

$369,900

PROJECTED PRICE

$2,260

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.57%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$6,326

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,356

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2603$2,4004$2,4505$2,595
$2,595
RENT COMPS ANALYSIS
  • 1001 Mist Flower Drive Little Elm, TX 2
    • 3 beds 3 baths ∙ 2,618 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,618 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.86
    •  
  • 2617 Sunstar Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 2016
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 1305 Xeraco Drive Little Elm, TX 3
    • 3 beds 3 baths ∙ 2,637 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,637 Sqft ∙ Built 2017
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 1329 Carlet Drive Little Elm, TX 4
    • 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2019
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.95
    •  
  • 1112 Mist Flower Drive Little Elm, TX 5
    • 4 beds 4 baths ∙ 2,750 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,750 Sqft ∙ Built 2017
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.94
    •  
PROPERTY LISTING DETAILS
Brian S. Curry
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14385730
Last Updated: 08/23/2020
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