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1209 Durango Place Flower Mound, TX 75028

4 Beds 3 Baths 2,727 sqft Built 1998

$435,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $159.52
  • 3 Days on Market
  • MLS # : 14488220
  • Updated Date : 12/18/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,727 sqft
  • Baths : 3 full
Listing Agent

Re/max Dfw Associates, Frisco Starwood

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: Stone Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Stone Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Forest Vista Elementary School Primary Regular 546 37 9
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Forest Vista Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 37
9
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,605
Property Tax -$751
Property Insurance -$185
HOA -$32
Property Management Fees -$99
CASH FLOW
-$51

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.

$435,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$20,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,618

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,5003$2,6004$2,6205$2,700
$2,700
RENT COMPS ANALYSIS
  • 1209 Durango Place Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.96
    •  
  • 1553 Yaggi Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1987
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.93
    •  
  • 601 Aspen Way Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,587 Sqft ∙ Built 1994
    property image
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.97
    •  
  • 1212 Baldcypress Lane Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1996
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
  • 2722 Halsey Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 1997
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kreg Hall
Re/max Dfw Associates, Frisco Starwood
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488220
Last Updated: 12/18/2020
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