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10842 Smoky Oak Trail Flower Mound, TX 76226

4 Beds 4 Baths 4,336 sqft Built 2015

INVESTimate

$675,000

List Price

$3,760

$3,510 - $4,010

Rent Est.

$705,983  ( +4.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $155.67
  • 6 Days on Market
  • MLS # : 14415360
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,336 sqft
  • Baths : 4 full
Listing Agent

United Country Re Fort Worth

Listing Agent's Description

The immaculate grand entrance draws you in with hand-scraped hard wood floors, an office with french doors and oodles of upgrades. The kitchen features quartz and granite counters accented by luxurious backsplash, stainless steel appliances, spice rack pull-outs and dual ovens (one is convection). Upstairs there’s a soundproof music and recording room plus a library that can be easily turned into two rooms, a media room or make it your own. Escape to the private backyard with trees behind the property and a covered patio. The double garage features hanging storage racks with access to the backyard. The single garage has been an ideal man-cave with a functional sink, wheelchair access, and adjustable counters.

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: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Neighborhood: Canyon Falls

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$607,500$742,500$675,000

PURCHASE PRICE

$3,384$4,136$3,760

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-$15k-$10k-$5.0k$0.0$5.0k$10k$15k

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 $3,760
EXPENSES Loan Payment -$2,490
Property Tax -$1,166
Property Insurance -$278
HOA -$218
Property Management Fees -$99
CASH FLOW
-$490

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.

$675,000

PROJECTED PRICE

$3,760

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,490

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$5,996

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,760

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,881

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$3,600
1$3,6002$3,7603$3,850
$3,850
RENT COMPS ANALYSIS
  • 10842 Smoky Oak Trail Flower Mound, TX 2
    • 4 beds 4 baths ∙ 4,336 Sqft ∙ Built 2015 4 beds 4 baths ∙ 4,336 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,760
    • $0.87
    •  
  • 10901 Falling Leaf Trail Flower Mound, TX 1
    • 5 beds 5 baths ∙ 4,220 Sqft ∙ Built 2018 5 beds 5 baths ∙ 4,220 Sqft ∙ Built 2018
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.85
    •  
  • 6705 Oak Knoll Road Flower Mound, TX 3
    • 4 beds 5 baths ∙ 4,099 Sqft ∙ Built 2016 4 beds 5 baths ∙ 4,099 Sqft ∙ Built 2016
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Leslie Hortman
United Country Re Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415360
Last Updated: 08/22/2020
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