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1303 Verona Lane Lewisville, TX 75077

3 Beds 2 Baths 2,026 sqft Built 2016

$325,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $160.41
  • 4 Days on Market
  • MLS # : 14479791
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,026 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Rockwall

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST OFFERS DUE SUN 12.06 AT 12PM CST. Welcome to this barely lived in D.R. Horton home situated just minutes from Lake Lewisville. Fall in love with the expansive, easy to maintain woodlook tile floors thru-out with carpet in bdrms. Open concept living space is perfect for entertaining family & friends during the holidays. Preparing meals is a breeze in the spacious kitchen with a gas ck-top, under-mount lighting, granite counters, subway tile backsplash, and island. Secluded owners rooms offers relaxing en suite with dual sinks, luxurious garden tub & WIC. Flex room positioned in the front of the home is great for working from home, play room or second living space.

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

Zip Code: 75077

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k339k

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

Zip Code: 75077

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262290

* 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
Valley Ridge Elementary School Primary Regular 535 40 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Valley Ridge Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 40
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,199
Property Tax -$560
Property Insurance -$144
HOA -$26
Property Management Fees -$99
CASH FLOW
$81

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.

$325,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$26,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,112

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1103$2,1504$2,2005$2,240
$2,240
RENT COMPS ANALYSIS
  • 1303 Verona Lane Lewisville, TX 2
    • 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $1.04
    •  
  • 1502 Gunnison Trail Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,986 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,986 Sqft ∙ Built 2004
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 2010 Sorrento Lane Lewisville, TX 3
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2016
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 1307 Verona Lane Lewisville, TX 4
    • 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,130 Sqft ∙ Built 2016
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
  • 1320 Venezia Lane Lewisville, TX 5
    • 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,031 Sqft ∙ Built 2016
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.10
    •  
PROPERTY LISTING DETAILS
Amy Flores
Keller Williams Rockwall
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479791
Last Updated: 12/04/2020
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