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1203 Babbling Brook Drive Lewisville, TX 75067

4 Beds 2 Baths 1,923 sqft Built 1985

$317,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $164.85
  • 4 Days on Market
  • MLS # : 14499448
  • Updated Date : 01/16/2021 at 20:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,923 sqft
  • Baths : 2 full
Listing Agent

Axis Realty Solution

Listing Agent's Description

Pride of Ownership for over 30yrs, meticulously maintained home was the Model Home for Goodman Builders. 4Bd, 2 Ba, 2 LVR has been Fully Remodeled in past 4 yrs. Granite counters in Kitchen, black granite sink, touch faucet, stainless Dbl oven, stone backsplash and accent band. Gorgeous Master Bath boasts Dbl vanity, granite counters oil rubbed bronze fixtures, oversized shower beautiful tile and granite, sleek garden tub. Secondary bath serving 3 bdrms has lrg shower, tile, granite, glass accent, oil rubbed fixtures Finished out 2 car garage, 22x22 Covered Carport, nice size yard with partially covered and open patio space. 1 Block from THRIVE Center walking trails, park and Playground, THIS ONE WILL GO FAST

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

Neighborhood: Indian Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Indian Oaks

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
Parkway Elementary School Primary Regular 542 42 5
Hedrick Middle School Middle Regular 672 56 4
Lewisville High School Harmon Campus High Regular NA

Parkway Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 42
5
GreatSchools Rating

Hedrick Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 56
4
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$285,300$348,700$317,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,101
Property Tax -$547
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
-$5

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.

$317,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,755

INVESTMENT

$89,755

Down Payment
$79,250
Rehab Estimate
$5,750
Closing Costs
$4,755

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,101

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,250
Loan Amount $237,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,731

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,966

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8803$1,9254$1,9995$2,000
$2,000
RENT COMPS ANALYSIS
  • 1203 Babbling Brook Drive Lewisville, TX 2
    • 4 beds 2 baths ∙ 1,923 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,923 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.98
    •  
  • 1316 Summertime Trail Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1985
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.05
    •  
  • 2021 Woven Trail Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,848 Sqft ∙ Built 1991
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.04
    •  
  • 1315 Autumn Trail Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1986
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.02
    •  
  • 2041 Wanderlust Drive Lewisville, TX 5
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1986
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Russell A. Chase
Axis Realty Solution
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499448
Last Updated: 01/16/2021
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