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1017 Bird Creek Drive Little Elm, TX 75068

4 Beds 4 Baths 2,987 sqft Built 2016

$329,900

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $110.45
  • 3 Days on Market
  • MLS # : 14459974
  • Updated Date : 11/07/2020 at 14:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,987 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Move in ready! Beautiful spacious 4 bedroom, 3. 1 bath, study and bonus room. Located in the highly desired Paloma Creek development. Enjoy the amenity center, 4 Junior Olympic size pools, 2 fitness facilities, and hike-and-bike trails wrapping around the neighborhood. With the greenbelts, parks, and sports fields, there's something fun and relaxing for all. Lovely galley kitchen. Granite counters, lots of cabinets, pantry. Stubbed for gas. This home offers great storage. Don't miss this one. Make this home for the holidays. Seller is offering a $2000 flooring allowance with an acceptable offer. Seller can close quickly. Buyers and Buyers’ agent to verify measurements, schools and taxes.

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: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

NeighborhoodNIR 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,217
Property Tax -$692
Property Insurance -$200
HOA -$31
Property Management Fees -$99
CASH FLOW
-$138

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.

$329,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,349

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,083

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0504$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 1017 Bird Creek Drive Little Elm, TX 5
    • 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
  • 1405 Rivers Creek Lane Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2015
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
  • 1204 Rivers Creek Lane Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,806 Sqft ∙ Built 2016
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 912 Hawk Valley Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2012
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.72
    •  
  • 1421 Castle Creek Drive Little Elm, TX 4
    • 5 beds 4 baths ∙ 2,981 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,981 Sqft ∙ Built 2013
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.70
    •  
PROPERTY LISTING DETAILS
Penny Lacey
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459974
Last Updated: 11/07/2020
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