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1121 Parkstone Drive Little Elm, TX 76227

4 Beds 3 Baths 2,597 sqft Built 2019

$380,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $146.32
  • 3 Days on Market
  • MLS # : 14520909
  • Updated Date : 03/05/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,597 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Fantastic two story Highland built home with upgraded 8' glass front door to greet you. Master suite and secondary bedroom downstairs. Family room with high ceilings and windows opens to the kitchen for great entertaining. Upstairs loft is tucked away for privacy. Two bedrooms upstairs share bath with double vanity and separation from the tub-shower area.

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: Union Park

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Union Park

ZipNIR 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
Savannah Elementary School Primary Regular 640 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Savannah Elementary School

  • Education Level: Primary
  • # of students: 640
  • # 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
 

$342,000$418,000$380,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,320
Property Tax -$797
Property Insurance -$177
HOA -$108
Property Management Fees -$99
CASH FLOW
-$271

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.

$380,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,066

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,233

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,2304$2,2955$2,600
$2,600
RENT COMPS ANALYSIS
  • 1121 Parkstone Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.86
    •  
  • 920 Caudle Lane Savannah, TX 1
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2013
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 1228 Hayden Lane Savannah, TX 2
    • 4 beds 4 baths ∙ 2,534 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,534 Sqft ∙ Built 2011
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 1128 King George Lane Savannah, TX 4
    • 5 beds 4 baths ∙ 2,602 Sqft ∙ Built 2007 5 beds 4 baths ∙ 2,602 Sqft ∙ Built 2007
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.88
    •  
  • 809 Dusty Trail Little Elm, TX 5
    • 3 beds 3 baths ∙ 2,762 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,762 Sqft ∙ Built 2016
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.94
    •  
PROPERTY LISTING DETAILS
John Powell
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520909
Last Updated: 03/05/2021
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