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110 Highland Lake Drive Highland Village, TX 75077

3 Beds 3 Baths 2,726 sqft Built 1984

$435,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $159.57
  • 4 Days on Market
  • MLS # : 14480497
  • Updated Date : 12/03/2020 at 20:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,726 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Incredible, SECLUDED RETREAT near Lake Lewisville. Stunning vaulted ceilings, brick accents, shiplap and unique designer touches throughout! This home includes the adjacent lot - parcels R585044 and R585043! Cooks absolutely love the granite counter tops, stainless steel appliances, recessed gas range, double ovens, and wonderful natural light. Over-sized backyard allows for added privacy and the views are amazing from the Balcony! Convenient location with quick access to I35.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Highland Lake North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Highland Lake North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Mcauliffe Elementary School Primary Regular 520 37 9
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Mcauliffe Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 37
9
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,605
Property Tax -$796
Property Insurance -$185
Property Management Fees -$99
CASH FLOW
-$65

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.

$435,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$19,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,665

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,275
1$2,2752$2,4503$2,6204$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 110 Highland Lake Drive Highland Village, TX 3
    • 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,726 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.96
    •  
  • 317 Merriman Drive Highland Village, TX 1
    • 3 beds 3 baths ∙ 2,417 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,417 Sqft ∙ Built 1984
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.94
    •  
  • 601 Hidden Oak Court Highland Village, TX 2
    • 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 1988
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
  • 438 Moran Drive Highland Village, TX 4
    • 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,701 Sqft ∙ Built 1985
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.02
    •  
  • 454 Moran Drive Highland Village, TX 5
    • 4 beds 4 baths ∙ 2,993 Sqft ∙ Built 1984 4 beds 4 baths ∙ 2,993 Sqft ∙ Built 1984
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Royale Sommer
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480497
Last Updated: 12/03/2020
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