Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

104 Citation Lane Hickory Creek, TX 75065

4 Beds 3 Baths 3,181 sqft Built 2020

INVESTimate

$527,836

List Price

$2,130

$1,917 - $2,343

Rent Est.

$576,714  ( +9.26%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $165.93
  • 2 Days on Market
  • MLS # : 14420553
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,181 sqft
  • Baths : 3 full
Listing Agent

Taylor Morrison Realty Of Texa

Listing Agent's Description

MLS# 14420553 - Built by Taylor Morrison - December completion! ~ The Bonita will quickly be a community favorite and is the model home. A sprawling one-story with a J-Swing, 3rd car garage and courtyard entry has a beautiful curb appeal. Boasting 4 bedrooms, a study and game room all on one level the livability has been maximized. The gathering room is a hub overlooked by a gourmet kitchen and large island along with a casual dining area. Natural light spills into the space and the outdoor covered living area offers ample space to take the party outside. A formal dining room off the grand foyer is a welcoming entrance.

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: Harbor Grove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $87k352k

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

Neighborhood: Harbor Grove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8322171

* 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
Corinth Elementary School Primary Regular 554 40 5
Lake Dallas Middle School Middle Regular 941 65 7
Lake Dallas High School High Regular 1,275 79 6

Corinth Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 40
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
 

$475,052$580,620$527,836

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,947
Property Tax -$987
Property Insurance -$211
HOA -$63
Property Management Fees -$99
CASH FLOW
-$1,177

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.

$527,836

PROJECTED PRICE

$2,130

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.26%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$141,877

INVESTMENT

$141,877

Down Payment
$131,959
Rehab Estimate
$2,000
Closing Costs
$7,918

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,947

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,959
Loan Amount $395,877
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$73

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,704

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,130
1$2,1302$2,4003$2,5504$2,700
$2,700
RENT COMPS ANALYSIS
  • 104 Citation Lane Hickory Creek, TX 1
    • 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,181 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.67
    •  
  • 143 Shasta Drive Hickory Creek, TX 2
    • 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
    •  
  • 118 Saratoga Drive Hickory Creek, TX 3
    • 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
    •  
  • 3606 Windsor Parkway Corinth, TX 4
    • 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2002
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Taylor Morrison Realty Of Texa
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420553
Last Updated: 08/25/2020
BESbswy