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1016 Pitch Pine Hickory Creek, TX 75065

3 Beds 2 Baths 1,876 sqft Built 2020

$319,990

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $170.57
  • 5 Days on Market
  • MLS # : 14492094
  • Updated Date : 01/01/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

BEAUTIFUL NEW CONSTRUCTION OPEN CONCEPT HOME BUILT BY AMERICA'S BUJILDER D.R. HORTON IN THE ALCOVE OF HICKORY CREEK!*The Cypress Floor (Elev B)~1 Story 3-2-2 with Study*Chef's Kitchen with Granite Countertops,Tiled Back splash,Breakfast Bar,Stainless Steel Built-In Appliances,Gas Cooktop & W-I Pantry*Large Primary Bedroom with dual sink vanity,Garden Tub,oversize Shower with seat & large W-I Closet*~Tiled throughout Entry,Halls & Wet areas*8 ft front door*Tall ceilings* 42 in upper cabinets*Home is Connected Smart Home Technology,Tankless Water Heater*Covered back Patio,Landscape Pkg with full Sprinkler System & more!*Can't beat this location!! Est completion APRIL 2021.

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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
 

$287,991$351,989$319,990

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,181
Property Tax -$682
Property Insurance -$136
HOA -$54
Property Management Fees -$99
CASH FLOW
-$61

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.

$319,990

PROJECTED PRICE

$2,090

PROJECTED RENT

0.65%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,797

INVESTMENT

$86,797

Down Payment
$79,998
Rehab Estimate
$2,000
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,998
Loan Amount $239,993
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $2,096

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$2,0903$2,0954$2,1005$2,250
$2,250
RENT COMPS ANALYSIS
  • 1016 Pitch Pine Hickory Creek, TX 2
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.11
    •  
  • 517 Highpark Court Lake Dallas, TX 1
    • 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,551 Sqft ∙ Built 2013
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.10
    •  
  • 147 Nix Drive Hickory Creek, TX 3
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2019
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.12
    •  
  • 122 Nix Drive Hickory Creek, TX 4
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2019
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
  • 130 Bluebonnet Highland Village, TX 5
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2014
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.13
    •  
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 #: 14492094
Last Updated: 01/01/2021
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