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1112 Wheatear Drive Little Elm, TX 75068

4 Beds 3 Baths 2,805 sqft Built 2014

INVESTimate

$335,000

List Price

$2,140

$1,926 - $2,354

Rent Est.

$355,000  ( +5.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $119.43
  • 6 Days on Market
  • MLS # : 14417992
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,805 sqft
  • Baths : 2 full , 1 half
Listing Agent

Repeat Realty, Llc

Listing Agent's Description

This beautiful like-new home is sure to be a favorite! The welcoming first floor features gorgeous hand scraped hardwood floors and an open concept family room with a large, upgraded kitchen including granite countertops, mosaic backsplash, stainless steel appliances and a walk-in pantry. The spacious second floor boasts large secondary bedrooms and an ample game room with built-in desk and balcony. With parks, pools, walking trails and more, the Paloma Creek community is a great place to call home.

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: 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
Paloma Creek Elementary School Primary Regular 670 41 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Paloma Creek Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 41
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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$1,236
Property Tax -$702
Property Insurance -$189
HOA -$28
Property Management Fees -$99
CASH FLOW
-$114

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.

$335,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.97%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$9,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,293

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1403$2,1954$2,3955$2,500
$2,500
RENT COMPS ANALYSIS
  • 1112 Wheatear Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,805 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.76
    •  
  • 1504 Cedarbird Drive Little Elm, TX 1
    • 4 beds 4 baths ∙ 2,714 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,714 Sqft ∙ Built 2010
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 1408 Heather Lane Little Elm, TX 3
    • 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 1416 Cedarbird Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,705 Sqft ∙ Built 2010
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
  • 905 Lovebird Lane Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,978 Sqft ∙ Built 2011
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Kevia Rawlinson
Repeat Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417992
Last Updated: 08/22/2020
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