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1020 Bird Creek Drive Little Elm, TX 75068

3 Beds 2 Baths 2,044 sqft Built 2017

$319,700

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $156.41
  • 3 Days on Market
  • MLS # : 14530107
  • Updated Date : 03/13/2021 at 18:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

EXQUISITE Beazer home with only 1 owner! Trending upgrades GALORE including wood floors EVERYWHERE except the 2spare bedrooms. Master features sitting area extension. Secondary Bath includes it's very own linen closet as well! Open Kitchen with LOADS of storage, including a pantry, and huge single level bar (island) PERFECT for ENTERTAINING. Not to mention BUILT IN COFFE BAR or Dry bar, however you prefer to use this space!Tasteful accent walls in living room, creating a cozy space next to the fireplace. Enjoy the view of your private, oversized lot from your covered patio, which is also visible from your kitchen! Still 6 years left on Builder Foundation Warranty!

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

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
 

$287,730$351,670$319,700

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,110
Property Tax -$670
Property Insurance -$145
HOA -$31
Property Management Fees -$99
CASH FLOW
-$266

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.

$319,700

PROJECTED PRICE

$1,790

PROJECTED RENT

0.56%

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

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$90,471

INVESTMENT

$90,471

Down Payment
$79,925
Rehab Estimate
$5,750
Closing Costs
$4,796

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,110

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,925
Loan Amount $239,775
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,789

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,7903$1,7954$1,8005$1,875
$1,875
RENT COMPS ANALYSIS
  • 1020 Bird Creek Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.88
    •  
  • 1325 Villa Paloma Boulevard Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,018 Sqft ∙ Built 2013
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.88
    •  
  • 1416 Villa Paloma Boulevard Little Elm, TX 3
    • 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 2012
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.89
    •  
  • 716 Kinghaven Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2015
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 1413 Villa Paloma Boulevard Little Elm, TX 5
    • 3 beds 2 baths ∙ 2,219 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,219 Sqft ∙ Built 2011
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.84
    •  
PROPERTY LISTING DETAILS
Alexa Hart
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530107
Last Updated: 03/13/2021
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