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1313 Jasmine Drive Lewisville, TX 75077

3 Beds 2 Baths 1,636 sqft Built 1986

$225,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $137.53
  • 3 Days on Market
  • MLS # : 14476065
  • Updated Date : 11/28/2020 at 09:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,636 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Bright open floorplan flooded with light. Living area is open to kitchen, perfect for entertaining friends. Split bedrooms with secondary living area and updated guest bathroom. It's a great layout for your teens or guests to have their own privacy. Downstairs repainted this year. New Carpets installed in May 2020. Roof is only 3 years old. HVAC is replaced in December 2019. Front windows installed March 2018 with transferable warranty. And you’ll love the extra large lot with oversized backyard and wood deck. Now let’s talk about location, location, location! Easy access to I35 for commute, plenty of great restaurants, shopping nearby. Only 5 mins to Lake Lewisville. Walking distance to Elementary school.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Garden Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k290k

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

Neighborhood: Garden Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9921939

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$830
Property Tax -$388
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$301

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$45,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,738

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7404$1,7455$1,750
$1,750
RENT COMPS ANALYSIS
  • 1313 Jasmine Drive Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.06
    •  
  • 1367 Chinaberry Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1986
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 1804 Cactus Circle Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1987
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 1396 Chinaberry Drive Lewisville, TX 4
    • 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.06
    •  
  • 1349 Jasmine Drive Lewisville, TX 5
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 1986
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.08
    •  
PROPERTY LISTING DETAILS
Tom Calvaneso
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14476065
Last Updated: 11/28/2020
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