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11509 Misty Ridge Drive Flower Mound, TX 76262

4 Beds 5 Baths 2,926 sqft Built 2017

$584,990

List Price

$3,270

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $199.93
  • 4 Days on Market
  • MLS # : 14500157
  • Updated Date : 01/14/2021 at 16:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,926 sqft
  • Baths : 4 full , 1 half
Listing Agent

Shirley Boulter Davis, Realtor

Listing Agent's Description

Gorgeous Drees Custom Homes model home in Trailwood for sale! Come see the popular Rosella A floorplan model home with all the custom upgrades you could imagine. Kitchen is a chef's dream with beautiful countertops and custom made cabinetry. Large family room with open concept and soaring ceilings. Large gameroom upstairs as well as 2 baths, and 2 bedrooms. Luxurious master bedroom with spa like bath to escape and unwind. Come out to see us today!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$526,491$643,489$584,990

PURCHASE PRICE

$2,943$3,597$3,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,270
EXPENSES Loan Payment -$2,032
Property Tax -$1,010
Property Insurance -$196
HOA -$150
Property Management Fees -$99
CASH FLOW
-$217

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.

$584,990

PROJECTED PRICE

$3,270

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$160,772

INVESTMENT

$160,772

Down Payment
$146,248
Rehab Estimate
$5,750
Closing Costs
$8,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,032

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $146,248
Loan Amount $438,743
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,270

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $3,248

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,1003$3,1954$3,2705$3,500
$3,500
RENT COMPS ANALYSIS
  • 11509 Misty Ridge Drive Flower Mound, TX 4
    • 4 beds 5 baths ∙ 2,926 Sqft ∙ Built 2017 4 beds 5 baths ∙ 2,926 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,270
    • $1.12
    •  
  • 11417 Winecup Road Flower Mound, TX 1
    • 3 beds 4 baths ∙ 2,680 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,680 Sqft ∙ Built 2014
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
  • 11413 Winecup Road Flower Mound, TX 2
    • 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,905 Sqft ∙ Built 2014
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.07
    •  
  • 1504 Monarch Trail Northlake, TX 3
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2020
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,195
    • $1.09
    •  
  • 6605 Roughleaf Ridge Road Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,833 Sqft ∙ Built 2018
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.24
    •  
PROPERTY LISTING DETAILS
Shirley Davis
Shirley Boulter Davis, Realtor
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500157
Last Updated: 01/14/2021
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