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1361 Honeysuckle Lane Lewisville, TX 75077

3 Beds 2 Baths 1,689 sqft Built 1995

$279,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $165.19
  • 3 Days on Market
  • MLS # : 14500538
  • Updated Date : 01/16/2021 at 12:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,689 sqft
  • Baths : 2 full
Listing Agent

Texas Real Estate Hq

Listing Agent's Description

Multiple offers received, Showings until Sunday Jan. 17 at 4pm. Best and final offer must be received by 5pm Sunday. Beautiful updates throughout this stylish 3 bedroom, 2 bath 1,689 sq ft move-in ready Light, bright & open concept is enhanced by soaring ceilings, light gray color palette, rich gray tones wood-like flooring & lots of windows flooding the home with natural light. Spacious living room has a gorgeous, sleek fireplace & a high-end ceiling fan. French doors lead to the nice sized private fenced backyard & patio. Tranquil master retreat is downstairs with an updated bathroom with dual sinks, high-end faucets & spacious custom tiled shower. Upstairs is 2 additional bedrooms & a remodeled BR

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: 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
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$969
Property Tax -$481
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$56

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.

$279,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.62%

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-$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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$17,810

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,727

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7004$1,7305$1,800
$1,800
RENT COMPS ANALYSIS
  • 1361 Honeysuckle Lane Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.02
    •  
  • 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
    •  
  • 1813 Rose Circle Lewisville, TX 2
    • 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,795 Sqft ∙ Built 1996
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 1349 Honeysuckle Lane Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1996
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.02
    •  
  • 1362 Honeysuckle Lane Lewisville, TX 5
    • 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,699 Sqft ∙ Built 1994
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
Sherri Aaron
Texas Real Estate Hq
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500538
Last Updated: 01/16/2021
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