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1224 Blairwood Drive Flower Mound, TX 75028

5 Beds 3 Baths 3,351 sqft Built 1998

INVESTimate

$444,900

List Price

$2,760

$2,510 - $3,010

Rent Est.

$475,287  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $132.77
  • 6 Days on Market
  • MLS # : 14417014
  • Updated Date : 08/25/2020 at 19:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,351 sqft
  • Baths : 3 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Beautifully updated home with fantastic floor plan! Owner's retreat and guest room downstairs. Formal living and Family room downstairs with private game room upstairs. Hand scraped wood floors throughout most of the 1st floor. Large Owner's suite with updated bath. Spacious bedrooms with large closets. Unbelievable storage space! Lovely landscaping with huge covered patio. Granite counter tops in Kitchen, updated appliances,plumbed for gas, walk in pantry. 3 large walk in attics with storage space and a pull down attic with storage as well! Pride of ownership shows in this home! Great location, minutes to Parker Square, lots of bike trails to explore! Newer roof and water heater!

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: Rustic Timbers

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k411k

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

Neighborhood: Rustic Timbers

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262631

* 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
 

$400,410$489,390$444,900

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$1,641
Property Tax -$768
Property Insurance -$221
HOA -$31
Property Management Fees -$99
CASH FLOW
-$1

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.

$444,900

PROJECTED PRICE

$2,760

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,649

INVESTMENT

$123,649

Down Payment
$111,225
Rehab Estimate
$5,750
Closing Costs
$6,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,641

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,225
Loan Amount $333,675
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$25,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,999

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,760
1$2,7602$2,8003$2,9004$2,9005$3,150
$3,150
RENT COMPS ANALYSIS
  • 1224 Blairwood Drive Flower Mound, TX 1
    • 5 beds 3 baths ∙ 3,351 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,351 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.82
    •  
  • 2004 Rose Bluff Terrace Flower Mound, TX 2
    • 4 beds 4 baths ∙ 3,151 Sqft ∙ Built 1992 4 beds 4 baths ∙ 3,151 Sqft ∙ Built 1992
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.89
    •  
  • 2200 Cheshire Drive Flower Mound, TX 3
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 1997
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
  • 1105 Bur Oak Drive Flower Mound, TX 4
    • 5 beds 3 baths ∙ 3,203 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,203 Sqft ∙ Built 1997
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
  • 2113 Clayton Drive Flower Mound, TX 5
    • 4 beds 4 baths ∙ 3,604 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,604 Sqft ∙ Built 1995
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.87
    •  
PROPERTY LISTING DETAILS
Shelly Mullins
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417014
Last Updated: 08/25/2020
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