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1224 Horsetail Drive Little Elm, TX 75068

4 Beds 3 Baths 3,295 sqft Built 2021

$529,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $160.55
  • 2 Days on Market
  • MLS # : 14509733
  • Updated Date : 01/30/2021 at 19:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,295 sqft
  • Baths : 3 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

BRAND NEW IN FRISCO HILLS SOUTH FACING. FRISCO SCHOOLS!! Beautiful Old World design with stone accents. Custom 8' front door leads to 2 story foyer and circular staircase. Engineered Hardwood ENTRY, STUDY, F. DINING, FAMILY! Study w French Doors, Impressive 2 story F. Dining, Guest BR down, nice Kitchen with custom cabinetry and granite tops. Large 2 story Family, Great Master down with 14' ceiling and HUGE closet. 2 BRs, Game, Media up. WHIRLPOOL SS Appliances featuring 36 Inch 5 BURNER Gas cooktop, DOUBLE WI-FI OVENS! Full Stainless front dishwasher with hidden controls. Built-in SS Micro above ovens. Upgraded Frieze carpeting, Upgraded Brushed Nickel fixtures! Large Covered Patio. READY END MARCH. MUST SEE!

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR 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
Trent Middle School Middle Regular NA
Memorial High School High Regular NA

Miller Elementary School

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

Trent Middle School

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

Memorial High School

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

$476,100$581,900$529,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,837
Property Tax -$1,109
Property Insurance -$218
HOA -$38
Property Management Fees -$99
CASH FLOW
-$790

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$529,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,185

INVESTMENT

$142,185

Down Payment
$132,250
Rehab Estimate
$2,000
Closing Costs
$7,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,837

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $132,250
Loan Amount $396,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$9

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,512

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,5104$2,5505$2,595
$2,595
RENT COMPS ANALYSIS
  • 1224 Horsetail Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 3,295 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,295 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.76
    •  
  • 829 Mist Flower Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 2014
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.73
    •  
  • 2596 Largo Lane Little Elm, TX 2
    • 4 beds 3 baths ∙ 3,384 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,384 Sqft ∙ Built 2011
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.74
    •  
  • 704 Yarrow Street Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,273 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,273 Sqft ∙ Built 2016
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.78
    •  
  • 14217 Sugar Hill Drive Little Elm, TX 5
    • 4 beds 4 baths ∙ 3,244 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,244 Sqft ∙ Built 2015
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.80
    •  
PROPERTY LISTING DETAILS
Frank Parli
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509733
Last Updated: 01/30/2021
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