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1373 Wentworth Drive Lewisville, TX 75067

4 Beds 3 Baths 2,479 sqft Built 1994

$359,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $144.82
  • 2 Days on Market
  • MLS # : 14495514
  • Updated Date : 01/09/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,479 sqft
  • Baths : 2 full , 1 half
Listing Agent

Savvy Way Realty, Inc

Listing Agent's Description

Quality 4 bedroom rests in desired Lewisville neighborhood zoned for Flower Mound schools.Two mature oak trees, beautiful landscaping, and a sleek front door welcome you home. Step into your bright vast entryway to your open layout with a beautiful view to the modern fireplace. All new waterproof luxury vinyl installed this January 2021. Cozy up to the gas fireplace while enjoying the open view through the large picture windows that frame the fireplace. All new windows installed in October 2019. A brand new Trane HVAC system installed August 2019.The formal living space flows to a second large dining area with easy access to your kitchen. Your spacious kitchen offers ample cabinet & quartz countertop space.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Water Oak Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Water Oak Estates

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
Garden Ridge Elementary School Primary Regular 465 30 10
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Garden Ridge Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 30
10
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,247
Property Tax -$619
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
$85

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.

$359,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,728

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,200

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,0503$2,2004$2,2205$2,300
$2,300
RENT COMPS ANALYSIS
  • 1373 Wentworth Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.90
    •  
  • 412 Newport Drive Flower Mound, TX 1
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 1993
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.90
    •  
  • 520 Newport Drive Flower Mound, TX 2
    • 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1993
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.84
    •  
  • 1312 Wentworth Drive Lewisville, TX 3
    • 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,469 Sqft ∙ Built 1994
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 501 Saddleback Lane Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 1996
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Will Puente
Savvy Way Realty, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495514
Last Updated: 01/09/2021
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