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1059 Lake Trail Drive Little Elm, TX 75068

3 Beds 2 Baths 1,753 sqft Built 2021

$305,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $173.99
  • 2 Days on Market
  • MLS # : 14478093
  • Updated Date : 11/28/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,753 sqft
  • Baths : 2 full
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Brand New! No HOA!! ALL BRICKS & STONE!! 16 SEER AC! DOUBLE PLANE WINDOW! 30 YEARS ROOF!! ! Single-Story with 3 Bed, 2 Bath, 2 Garage. With open floorplan, this home offers granite, island in kitchen , spacious pantry and fireplace. Located on the banks of Lake Lewisville, 850 feet from Eldorado pkwy, 1.5 miles from the Little Elm Beach, 2.5 miles from the Little Elm Towne Crossing Shopping Mall, you will enjoy beautiful views and walking paths along the lake! *Estimated completion Feb 2021. Please contact info@hearbuilders.com for complete upgrade list! Visit us at www.herabuilders.com or at 972-833-1002

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: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $121k308k

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

Neighborhood: Lakeside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10611912

* 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
Cesar Chavez Elementary School Primary Regular 753 42 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Cesar Chavez Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 42
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,125
Property Tax -$639
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$362

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$305,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,825

INVESTMENT

$82,825

Down Payment
$76,250
Rehab Estimate
$2,000
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$287

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,6504$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 1059 Lake Trail Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.93
    •  
  • 1022 Port Isabel Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2001
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 640 Alcove Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 2002
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 309 Port O Conner Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 2001
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 652 Alcove Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2001
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Adam Rahman
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478093
Last Updated: 11/28/2020
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