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1327 Cedar Ridge Drive Lewisville, TX 75067

3 Beds 2 Baths 1,272 sqft Built 1985

$225,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $176.89
  • 1 Days on Market
  • MLS # : 14531965
  • Updated Date : 03/13/2021 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,272 sqft
  • Baths : 2 full
Listing Agent

William Davis Realty

Listing Agent's Description

Come see this immaculate home in great location near major highways , Resturant and shops . This bright and open 3 bedrooms home featured vaulted ceilings , decorative lights, fireplace and ceramic tiles throughout . Master suit has bay windows and offers his and hers closet , dual vanities . The large backyard has a deck and privacy fence and will be perfect for entertainment . Brand new 16 seers HVAC installed in 2020

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: Orchard Hill

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $89k336k

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

Neighborhood: Orchard Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9682171

* 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
Creekside Elementary School Primary Regular 495 35 5
Hedrick Middle School Middle Regular 672 56 4
Lewisville High School Harmon Campus High Unknown NA

Creekside Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 35
5
GreatSchools Rating

Hedrick Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 56
4
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$782
Property Tax -$388
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
$91

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.

$225,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.8%
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$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

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$18,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,453

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5003$1,5004$1,6255$1,700
$1,700
RENT COMPS ANALYSIS
  • 1327 Cedar Ridge Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.15
    •  
  • 944 Old Orchard Lane Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1984
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
  • 1131 Brownwood Drive Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1970
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 1018 Kingston Drive Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.12
    •  
  • 1281 Marchant Place Lewisville, TX 5
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2000
    property image
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Parisa Bahmani
William Davis Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531965
Last Updated: 03/13/2021
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