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1005 Glen Chester Drive Flower Mound, TX 75022

4 Beds 3 Baths 2,847 sqft Built 1994

$445,000

List Price

$3,050

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $156.30
  • 5 Days on Market
  • MLS # : 14459866
  • Updated Date : 10/31/2020 at 06:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,847 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

Gorgeous home in one of the most highly sought-after school districts in all of North Texas! You will have plenty of room here while working from home. This home features boasting high ceilings and tons of living space. Situated in the perfect location, an easy commute to DFW airport and just minutes from Lake Grapevine. Enjoy a stroll or take your bike right onto Northshore trails, and stop by one of the many restaurants or shops at the Lakeside. Space, convenience and local amenities; You just found the home you have been searching for!

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

Neighborhood: Woodlake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Woodlake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Old Settlers Elementary School Primary Regular 636 43 10
Shadow Ridge Middle School Middle Regular 721 52 10
Flower Mound High School High Regular 2,550 157 10

Old Settlers Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 43
10
GreatSchools Rating

Shadow Ridge Middle School

  • Education Level: Middle
  • # of students: 721
  • # of teachers: 52
10
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$1,642
Property Tax -$768
Property Insurance -$192
HOA -$22
Property Management Fees -$99
CASH FLOW
$327

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.

$445,000

PROJECTED PRICE

$3,050

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 5.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$0.0$5.0k$10k$15k$20k$25k$30k

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,642

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$59,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,783

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5953$2,7504$3,0005$3,050
$3,050
RENT COMPS ANALYSIS
  • 1005 Glen Chester Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,847 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $1.07
    •  
  • 1916 Woodland Boulevard Flower Mound, TX 1
    • 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 1995
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.94
    •  
  • 2900 Meadow Green Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 1998
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 700 Montrose Court Flower Mound, TX 3
    • 4 beds 2 baths ∙ 2,587 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,587 Sqft ∙ Built 1994
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.06
    •  
  • 813 Crestfield Drive Flower Mound, TX 4
    • 5 beds 4 baths ∙ 3,164 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,164 Sqft ∙ Built 2000
    LEASED 07/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Robin Crosby
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459866
Last Updated: 10/31/2020
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