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1209 Red Drive Little Elm, TX 75068

4 Beds 3 Baths 2,476 sqft Built 2011

$349,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $141.32
  • 2 Days on Market
  • MLS # : 14505104
  • Updated Date : 01/23/2021 at 19:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,476 sqft
  • Baths : 2 full , 1 half
Listing Agent

Huggins Realty

Listing Agent's Description

***MULTIPLE OFFERS RECEIVED! SUBMIT HIGHEST AND BEST BY 10AM 1.25.2021*** Gorgeous home on an oversized lot in award winning Frisco ISD! Beautifully maintained open floor plan with laminate wood floors throughout the first floor living areas. Entry opens to sweeping views of the 2nd floor catwalk and game room with tons of open metal railing overlooking the kitchen & living. Kitchen features granite counters, lush dark wood cabinets, breakfast bar & SS appliances. Large master with laminate wood floors, walk-in closet & en suite bath with dual sinks, shower and separate garden tub. 2nd floor has three bedrooms and a game room great for entertaining. The huge backyard and patio are perfect for outdoor living.

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

Neighborhood: Frisco Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Frisco Ranch

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
Miller Elementary School Primary Regular NA
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
Lone Star High School High Regular 1,365 105 NA

Miller Elementary School

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

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,215
Property Tax -$733
Property Insurance -$170
HOA -$42
Property Management Fees -$99
CASH FLOW
-$110

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.

$349,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,781

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,173

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,998
1$1,9982$2,0503$2,1504$2,2505$2,300
$2,300
RENT COMPS ANALYSIS
  • 1209 Red Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,476 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.87
    •  
  • 14801 Frisco Ranch Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,355 Sqft ∙ Built 2006
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $0.85
    •  
  • 1401 Red Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,554 Sqft ∙ Built 2012
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.80
    •  
  • 14800 Southview Trail Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,458 Sqft ∙ Built 2012
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.92
    •  
  • 1437 Red Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,446 Sqft ∙ Built 2012
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Kenneth Huggins
Huggins Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505104
Last Updated: 01/23/2021
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