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1228 Thrasher Drive Little Elm, TX 75068

4 Beds 3 Baths 2,279 sqft Built 2020

$382,124

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $167.67
  • 3 Days on Market
  • MLS # : 14481597
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,279 sqft
  • Baths : 3 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14481597 - Built by Highland Homes - March completion! ~ WOOD flooring in all common areas, TALLER 11' ceilings and 8' Windows! 42 WHITE kitchen cabinets, WHITE QUARTZ counter tops, GAS cook top w- built-in stainless appliances, PENDENT Lights, separate tub & shower, dual sinks & vanity in master, STONE fireplace, upgraded 8' front door, 16 SEER Trane AC, TANKLESS water heater, SMART home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

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
Paloma Creek Elementary School Primary Regular 670 41 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Paloma Creek Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 41
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$343,912$420,336$382,124

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,410
Property Tax -$801
Property Insurance -$159
HOA -$31
Property Management Fees -$99
CASH FLOW
-$330

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.

$382,124

PROJECTED PRICE

$2,170

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$103,263

INVESTMENT

$103,263

Down Payment
$95,531
Rehab Estimate
$2,000
Closing Costs
$5,732

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,410

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,531
Loan Amount $286,593
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,165

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,1503$2,1704$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 1228 Thrasher Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,279 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.95
    •  
  • 1341 Rembrandt Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 2019
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.92
    •  
  • 1369 Lake Grove Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2018
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
  • 1321 Audubon Drive Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2020
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 1416 Thrasher Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,337 Sqft ∙ Built 2020
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481597
Last Updated: 12/04/2020
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