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1101 Rivers Creek Lane Little Elm, TX 75068

3 Beds 2 Baths 1,656 sqft Built 2016

$250,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $150.97
  • 3 Days on Market
  • MLS # : 14477877
  • Updated Date : 11/28/2020 at 20:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,656 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

MULTIPLE OFFERS - DEADLINE FOR HIGHEST & BEST IS 9 P.M. SUNDAY, 11-29-2020! Enjoy Paloma Creek South amenities with this adorable one story backing to open space with no neighbors behind! With upgraded wood flooring throughout living, traffic & bedroom spaces & ceramic tile in kitchen & wet areas this home has NO CARPET! Open island kitchen features granite c-tops, dark stained cabinetry & stainless steel appliances. Split bedroom plan offers privacy for the primary bedroom with ensuite bath including walk in closet, dual sinks, garden tub & separate shower. The living space expands to the extended patio & LARGE backyard with separate fire pit. Smart Home Tech = Nest Therm, Ring Doorbell & Blink Sec Cameras.

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: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$922
Property Tax -$542
Property Insurance -$123
HOA -$32
Property Management Fees -$99
CASH FLOW
-$68

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.

$250,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,7105$1,895
$1,895
RENT COMPS ANALYSIS
  • 1101 Rivers Creek Lane Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 3025 Layla Creek Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2016
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 1112 Rivers Creek Lane Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2016
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 3024 Manuel Creek Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2016
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.97
    •  
  • 816 Bird Creek Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,851 Sqft ∙ Built 2017
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.02
    •  
PROPERTY LISTING DETAILS
Beverly Wingard
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 #: 14477877
Last Updated: 11/28/2020
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