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1304 Wheatear Drive Little Elm, TX 75068

4 Beds 2 Baths 2,204 sqft Built 2011

$265,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $120.24
  • 3 Days on Market
  • MLS # : 14499898
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,204 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

A Single story home with Soaring Ceilings! Wood floors adorn the entry, hall, beds, & family room. Gourmet kitchen granite & stainless appliances. Master suite is perfect for king size furniture. Backyard with covered patio are perfect for outdoor living. Yard backs to walking trail. Price reflects selling home in current condition. Come put your finishing touches. This home is a 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

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$920
Property Tax -$555
Property Insurance -$155
HOA -$28
Property Management Fees -$99
CASH FLOW
$93

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.

$265,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.70%

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) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$18,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,995

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$1,9504$1,9505$2,200
$2,200
RENT COMPS ANALYSIS
  • 1304 Wheatear Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,204 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 1717 Shoebill Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2010
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 913 Foxglove Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 2015
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.87
    •  
  • 1032 Water Garden Circle Little Elm, TX 4
    • 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,061 Sqft ∙ Built 2016
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 920 Foxglove Drive Little Elm, TX 5
    • 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,304 Sqft ∙ Built 2015
    property image
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Leonard Mcmanaman
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499898
Last Updated: 01/15/2021
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