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1032 Sweet Grass Trail Flower Mound, TX 75028

4 Beds 3 Baths 2,512 sqft Built 1995

$389,500

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $155.06
  • 3 Days on Market
  • MLS # : 14534870
  • Updated Date : 03/20/2021 at 17:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,512 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Welcome home to this clean, well maintained home in Flower Mound! This home has an easy, flexible floorplan that can easily fit buyers needs! Featuring 2 dining areas, 2 living areas, 4 bedrooms and 2 flex spaces! Flex spaces could be home offices, play rooms, home gym or more! Kitchen has quartz countertops and is open to main living area. Backyard has an extended patio and pergola to provide additional outdoor living space this summer! Tons of storage! Brand new roof! Located only minutes away from major highways and DFW airport, this home is in an amazing location! Zoned to desirable Flower Mound High School. Bring your offers, this home won't last long!

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: Oakwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Oakwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Garden Ridge Elementary School Primary Regular 465 30 10
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Garden Ridge Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 30
10
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

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

$350,550$428,450$389,500

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,353
Property Tax -$673
Property Insurance -$149
HOA -$22
Property Management Fees -$99
CASH FLOW
-$135

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.

$389,500

PROJECTED PRICE

$2,160

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,968

INVESTMENT

$108,968

Down Payment
$97,375
Rehab Estimate
$5,750
Closing Costs
$5,843

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,353

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,375
Loan Amount $292,125
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1604$2,1755$2,300
$2,300
RENT COMPS ANALYSIS
  • 1032 Sweet Grass Trail Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,103 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.03
    •  
  • 808 Sierra Lane Flower Mound, TX 1
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 1996
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 1932 Sunrise Trail Lewisville, TX 2
    • 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,211 Sqft ∙ Built 1991
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
  • 612 Alpine Cove Flower Mound, TX 4
    • 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,211 Sqft ∙ Built 1997
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.98
    •  
  • 817 Wood Duck Way Flower Mound, TX 5
    • 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,183 Sqft ∙ Built 1993
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
PROPERTY LISTING DETAILS
Kristen Wright
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534870
Last Updated: 03/20/2021
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