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1004 Mist Flower Drive Little Elm, TX 75068

4 Beds 4 Baths 3,044 sqft Built 2017

$449,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $147.50
  • 5 Days on Market
  • MLS # : 14534534
  • Updated Date : 03/18/2021 at 22:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,044 sqft
  • Baths : 3 full , 1 half
Listing Agent

Neha Realty

Listing Agent's Description

**Multiple Offers Received, Best and Highest by Sunday 11:00 am.** Seller needs lease back till July 5th. Showings are restricted for only 2 hours from 4pm - 6pm on Saturday. Please wear Mask while showing. South Facing Beautiful home in the highly sought after, prestigious community of Frisco Hills in Little Elm with highly accredited Frisco ISD Schools. Open Floor plan with lot of windows for natural lights. High ceiling family room, Kitchen with granite counter tops and stainless steel appliances and gas cooktop. Wood floor in the entry extended entry and Family Room. Upgraded carpet in all bedrooms. Media room is prewired with 5 .1 surround system. Covered patio and a nice backyard.

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

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 Unknown NA
Trent Middle School Middle Unknown 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
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,560
Property Tax -$941
Property Insurance -$203
HOA -$43
Property Management Fees -$99
CASH FLOW
-$546

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.

$449,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$79

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,283

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3004$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 1004 Mist Flower Drive Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,044 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 14901 Riverside Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,947 Sqft ∙ Built 2010
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.71
    •  
  • 15012 Spruce Street Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2012
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 2732 Costa Mesa Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 3,196 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,196 Sqft ∙ Built 2012
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 1324 Torrent Drive Little Elm, TX 5
    • 3 beds 4 baths ∙ 2,955 Sqft ∙ Built 2016 3 beds 4 baths ∙ 2,955 Sqft ∙ Built 2016
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
PROPERTY LISTING DETAILS
Nijo Mathew
Neha Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534534
Last Updated: 03/18/2021
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