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111 Longhorn Drive Lake Kiowa, TX 76240

3 Beds 2 Baths 2,327 sqft Built 1980

$500,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $214.87
  • 6 Days on Market
  • MLS # : 14511010
  • Updated Date : 02/02/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,327 sqft
  • Baths : 2 full
Listing Agent

Carla Trimber Realty Partners

Listing Agent's Description

Wonderful living on Lake Kiowa! Beautiful spacious 3 bedroom 2 bath home with wonderful sunroom. Huge corner lot, over .5 acres of trees and sunshine. You will enjoy the back deck for reading a book or watching friends and family gather under the trees for fun and games. The large fenced backyard is especially great for children and pets. This lovely home has been well maintained, enjoyed and loved. Two open spacious living areas for entertaining and lots of love to share. Lovely views of Lake Kiowa. Lake Kiowa offers many activities and a great lifestyle to enjoy. Don't miss this wonderful home to build lots of moments and memories.

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

Zip Code: 76240

ZipNIR Market*CityMarket20102015Year20062019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $83k331k

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

Zip Code: 76240

No Data Available.

* 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
Callisburg Elementary School Primary Regular 528 32 7
Callisburg High School High Regular 350 29 7

Callisburg Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 32
7
GreatSchools Rating

Callisburg High School

  • Education Level: High
  • # of students: 350
  • # of teachers: 29
7
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,737
Property Tax -$812
Property Insurance -$156
HOA -$289
Property Management Fees -$99
CASH FLOW
-$1,203

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$500,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$2,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,978

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$2,200
$2,200
RENT COMPS ANALYSIS
  • 111 Longhorn Drive Lake Kiowa, TX 1
    • 3 beds 2 baths ∙ 2,327 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,327 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.81
    •  
  • 622 Kiowa Drive Lake Kiowa, TX 2
    • 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,600 Sqft ∙ Built 1969
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
PROPERTY LISTING DETAILS
Carla Blair
Carla Trimber Realty Partners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511010
Last Updated: 02/02/2021
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