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110 Quince Drive Flower Mound, TX 75028

3 Beds 3 Baths 2,706 sqft Built 2020

INVESTimate

$564,990

List Price

$2,170

$1,953 - $2,387

Rent Est.

$603,579  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $208.79
  • 6 Days on Market
  • MLS # : 14418387
  • Updated Date : 08/21/2020 at 12:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,706 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

AVAILABLE NOW! It’s time. Time to enjoy the fruits of your hard work with a relaxed, low-maintenance lifestyle. Time to enjoy an afternoon at the pool, happy hour at the clubhouse or “lock and leave” on that trip you’ve always wanted to take. It’s time to reap the benefits of energy-efficiency savings and a more livable design – all without giving up the luxurious finishes you demand. It’s time to smart size at Orchard Flower. Visit this one-of-a-kind, boutique community in Flower Mound today and experience a smarter way of living. HAMPTON FLOORPLAN filled with over $14K in designer luxury features!

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

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Zip Code: 75028

ZipNIR 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
 

$508,491$621,489$564,990

PURCHASE PRICE

$1,953$2,387$2,170

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$2,085
Property Tax -$976
Property Insurance -$184
HOA -$236
Property Management Fees -$99
CASH FLOW
-$1,409

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.

$564,990

PROJECTED PRICE

$2,170

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,722

INVESTMENT

$151,722

Down Payment
$141,248
Rehab Estimate
$2,000
Closing Costs
$8,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $141,248
Loan Amount $423,743
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,517

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,3003$2,500
$2,500
RENT COMPS ANALYSIS
  • 110 Quince Drive Flower Mound, TX 1
    • 3 beds 3 baths ∙ 2,706 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,706 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.80
    •  
  • 2438 Sunderland Lane Lewisville, TX 2
    • 3 beds 3 baths ∙ 2,556 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,556 Sqft ∙ Built 2009
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 713 Inglewood Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2002
    property image
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Robin Brown
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418387
Last Updated: 08/21/2020
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