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1278 Ocean Breeze Drive Flower Mound, TX 75028

3 Beds 4 Baths 3,088 sqft Built 2019

$525,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $170.01
  • 5 Days on Market
  • MLS # : 14494584
  • Updated Date : 01/07/2021 at 08:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,088 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Gorgeously finished one year old home! Located just minutes from DFW airport and Grapevine Lake, this home is move-in ready and includes extensive builder upgrades. The kitchen is finished with under lighting, upgraded appliances, upgraded cabinetry, over-sized island, and more! See attached upgrade list. Also featuring two master suites and living areas both up and down stairs, the layout can accommodate many different buyers needs. This home is designed with low maintenance and energy efficiency in mind, with radiant barrier, energy efficient zip-it boarding, and strategically placed windows, you can expect year round low utilities. See attached documents for more information and sellers disclosure.

SEE MORE

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

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,824
Property Tax -$1,063
Property Insurance -$206
HOA -$53
Property Management Fees -$99
CASH FLOW
-$544

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.

$525,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $3,489

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$3,8004$3,850
$3,850
RENT COMPS ANALYSIS
  • 1278 Ocean Breeze Drive Flower Mound, TX 1
    • 3 beds 4 baths ∙ 3,088 Sqft ∙ Built 2019 3 beds 4 baths ∙ 3,088 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.87
    •  
  • 2617 Woodstone Court Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2000
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.99
    •  
  • 2604 Bel Air Lane Flower Mound, TX 3
    • 3 beds 3 baths ∙ 3,031 Sqft ∙ Built 2014 3 beds 3 baths ∙ 3,031 Sqft ∙ Built 2014
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.25
    •  
  • 1113 Steele Lane Flower Mound, TX 4
    • 4 beds 3 baths ∙ 3,350 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,350 Sqft ∙ Built 2016
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $1.15
    •  
PROPERTY LISTING DETAILS
Mike Dennis
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494584
Last Updated: 01/07/2021
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