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1404 Ashby Drive Lewisville, TX 75067

5 Beds 3 Baths 2,556 sqft Built 2013

INVESTimate

$349,999

List Price

$2,300

$2,070 - $2,530

Rent Est.

$379,294  ( +8.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $136.93
  • 6 Days on Market
  • MLS # : 14418636
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,556 sqft
  • Baths : 3 full
Listing Agent

Avignon Realty

Listing Agent's Description

This well-maintained home has 5 bedrooms, 3 full bathroom, and multiple living and dining areas. Walk-in to high ceilings and tons of natural light pouring in through all the windows. Stone fireplace in the main living room with soaring ceilings. Kitchen has stainless steel appliances, granite counter-tops, coffee bar, and a butlers pantry. Private 1st floor Master suite has large walk In closet, garden tub, separate shower & dual vanity. Additional bedroom on 1st floor, perfect for family or guests. Remaining 3 bedrooms and additional living room upstairs. Has a beautiful community pool provides a place to cool off on hot days. Tenants currently leased until March 2021

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: The Villas at Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $122k323k

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

Neighborhood: The Villas at Wellington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262184

* 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
Delay Middle School Middle Regular 984 75 3
Lewisville High School Harmon Campus High Regular NA

Creekside Elementary School

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

Delay Middle School

  • Education Level: Middle
  • # of students: 984
  • # of teachers: 75
3
GreatSchools Rating

Lewisville High School Harmon Campus

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

$314,999$384,999$349,999

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,291
Property Tax -$604
Property Insurance -$175
HOA -$57
Property Management Fees -$99
CASH FLOW
$75

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.

$349,999

PROJECTED PRICE

$2,300

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$26,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,460

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3003$2,3994$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 1404 Ashby Drive Lewisville, TX 2
    • 5 beds 3 baths ∙ 2,556 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,556 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 801 Pebble Ridge Drive Lewisville, TX 1
    • 4 beds 3 baths ∙ 2,482 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,482 Sqft ∙ Built 1999
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.92
    •  
  • 417 Elam Drive Lewisville, TX 3
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1997
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,399
    • $0.93
    •  
  • 906 Witherby Lane Lewisville, TX 4
    • 5 beds 4 baths ∙ 2,730 Sqft ∙ Built 2012 5 beds 4 baths ∙ 2,730 Sqft ∙ Built 2012
    LEASED 05/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.93
    •  
  • 994 Regency Drive Lewisville, TX 5
    • 4 beds 4 baths ∙ 2,424 Sqft ∙ Built 1995 4 beds 4 baths ∙ 2,424 Sqft ∙ Built 1995
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.07
    •  
PROPERTY LISTING DETAILS
John Nguyen
Avignon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418636
Last Updated: 08/22/2020
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