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11995 Westlawn Lane Frisco, TX 75033

3 Beds 2 Baths 1,603 sqft Built 2006

$320,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $199.63
  • 4 Days on Market
  • MLS # : 14520593
  • Updated Date : 02/27/2021 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED, BEST AND FINAL DUE SUNDAY FEB 28. ENCHANTING 3 bedroom, 2 bath home on a corner lot in Griffin Parc across from Greenbelt w fountain. This amazing Cambridge builder home has had one owner and has been meticulously maintained. Open kitchen, dining, and living area are perfect for families or entertaining. A stunning stone mantle and fireplace make the living space even more cozy and warm. There is upgraded lighting throughout the home, and architectural details including vaulted ceilings, arched entries, and crown molding. Side yard with pergola is beautifully landscaped. Zoned for exceptional Frisco schools, it offers a community pool, park, and beautiful Cottonwood Greenbelt.

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: Griffin Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k461k

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

Neighborhood: Griffin Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Pink Elementary School Primary Regular 584 38 10
Bennett And Alma Griffin Middle School Middle Regular 815 56 10
Justin Wakeland High School High Regular 2,220 140 9

Pink Elementary School

  • Education Level: Primary
  • # of students: 584
  • # of teachers: 38
10
GreatSchools Rating

Bennett And Alma Griffin Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 56
10
GreatSchools Rating

Justin Wakeland High School

  • Education Level: High
  • # of students: 2,220
  • # of teachers: 140
9
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,111
Property Tax -$563
Property Insurance -$120
HOA -$91
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.

$320,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,062

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,707

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,9003$1,9504$1,9955$2,050
$2,050
RENT COMPS ANALYSIS
  • 11995 Westlawn Lane Frisco, TX 1
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.17
    •  
  • 11448 Balcones Drive Frisco, TX 2
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2000
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
  • 11290 Balcones Drive Frisco, TX 3
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2000
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
  • 11038 Sonterra Lane Frisco, TX 4
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 2003
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.09
    •  
  • 11259 Blackhawk Frisco, TX 5
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2003
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.08
    •  
PROPERTY LISTING DETAILS
Stacey Leslie
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520593
Last Updated: 02/27/2021
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