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1011 Pitch Pine Hickory Creek, TX 75065

4 Beds 3 Baths 3,015 sqft Built 2020

$384,165

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $127.42
  • 6 Days on Market
  • MLS # : 14491692
  • Updated Date : 12/29/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,015 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

BEAUTIFUL 2 STORY VERSATILE FLOOR PLAN with 4 BEDROOMS*PLUS STUDY*PLUS GAMEROOM. BUILT BY D.R. HORTON-AMERICA'S BUILDER. The Alcove of Hickory Creek! The Willow floorlan, Elevation D*Estimated completion APRIL 2021*Large Chef's Kitchen with Island, Granite Countertops, SS Built-in Appliances,42 inch upper cabinets & W-I Pantry*Master with over sized shower, dual Sink vanity & W-I Closet*3 additional bedrooms and gameroom up.*Very flexible floorplan!*Ceramic Tile Entry, Hallways & Wet areas*Tankless water heater*Smart Home Tech. Covered back patio, landscape package, sprinkler system & more!*Great location with close proximity to I35E, Lewisville Lake, UNT-TWU, shops & dining!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Lakeview Hickory Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k375k

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

Neighborhood: Lakeview Hickory Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262561

* 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
Lake Dallas Elementary School Primary Regular 721 47 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Lake Dallas Elementary School

  • Education Level: Primary
  • # of students: 721
  • # of teachers: 47
5
GreatSchools Rating

Lake Dallas Middle School

  • Education Level: Middle
  • # of students: 941
  • # of teachers: 65
7
GreatSchools Rating

Lake Dallas High School

  • Education Level: High
  • # of students: 1,275
  • # of teachers: 79
6
GreatSchools Rating
 

$345,749$422,582$384,165

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,417
Property Tax -$819
Property Insurance -$201
HOA -$54
Property Management Fees -$99
CASH FLOW
-$51

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$384,165

PROJECTED PRICE

$2,540

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 3.00%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$103,804

INVESTMENT

$103,804

Down Payment
$96,041
Rehab Estimate
$2,000
Closing Costs
$5,762

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,417

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,041
Loan Amount $288,124
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,968

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,563

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5404$2,550
$2,550
RENT COMPS ANALYSIS
  • 1011 Pitch Pine Hickory Creek, TX 3
    • 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.84
    •  
  • 143 Shasta Drive Hickory Creek, TX 1
    • 4 beds 3 baths ∙ 3,058 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,058 Sqft ∙ Built 2001
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.78
    •  
  • 111 Northfield Circle Hickory Creek, TX 2
    • 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 2003
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 118 Saratoga Drive Hickory Creek, TX 4
    • 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2016 5 beds 3 baths ∙ 2,905 Sqft ∙ Built 2016
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sherri Blasingame
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491692
Last Updated: 12/29/2020
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