Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11301 Misty Ridge Drive Flower Mound, TX 76262

4 Beds 3 Baths 3,418 sqft Built 2020

INVESTimate

$524,900

List Price

$2,950

$2,700 - $3,200

Rent Est.

$558,231  ( +6.35%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $153.57
  • 8 Days on Market
  • MLS # : 14416369
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,418 sqft
  • Baths : 3 full
Listing Agent

Key Trek-cc

Listing Agent's Description

Beautifully designed home built by K. Hovnanian Homes in a sought-after Flower Mound with Argyle ISD. Stunning wood flooring! Stylish gourmet kitchen hosts abundant cabinets, granite counters, stainless appliances, and a large island. Spacious great room features a warming fireplace and a wall of windows. Formal dining room plus casual dining area. Beautiful bay window at owner's suite. Fun gameroom upstairs! Convenient home office at entry. Extended covered patio. Trailwood's outdoor amenities beckon you to connect with nature. Resident’s enjoy walking trails, a clubhouse, resort style pool, children’s playground, firepit & covered picnic area. $59,300 in upgrades included. Smart home features.

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: 76262

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k430k

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

Zip Code: 76262

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262792

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$472,410$577,390$524,900

PURCHASE PRICE

$2,655$3,245$2,950

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,950
EXPENSES Loan Payment -$1,937
Property Tax -$906
Property Insurance -$225
HOA -$150
Property Management Fees -$99
CASH FLOW
-$367

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.

$524,900

PROJECTED PRICE

$2,950

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.35%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$141,099

INVESTMENT

$141,099

Down Payment
$131,225
Rehab Estimate
$2,000
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,950

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,748

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,6003$3,7004$3,700
$3,700
RENT COMPS ANALYSIS
  • 11301 Misty Ridge Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 3,418 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,418 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.86
    •  
  • 6637 Elderberry Way Flower Mound, TX 2
    • 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,419 Sqft ∙ Built 2018
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.05
    •  
  • 6600 Elderberry Way Flower Mound, TX 3
    • 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,309 Sqft ∙ Built 2019
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.12
    •  
  • 11459 Misty Ridge Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,301 Sqft ∙ Built 2018
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Teri Walter
Key Trek-cc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416369
Last Updated: 08/20/2020
BESbswy