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1409 Summerwind Lane Lewisville, TX 75077

3 Beds 2 Baths 1,694 sqft Built 1996

$250,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $147.58
  • 4 Days on Market
  • MLS # : 14504250
  • Updated Date : 01/22/2021 at 13:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,694 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Gorgeous one story home in desirable Lewisville neighborhood! Home opens to large living room that flows into dining room, and kitchen featuring breakfast nook! Secondary Living room with tons of natural light, and fireplace leads to backyard! Master suite features large walk in closet, separate tub, & shower! Two additional bedrooms and full bath! Large backyard with covered patio idea for relaxing! Great location near food, shopping, and entertainment! This home is A MUST SEE!

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: Valley Ridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Valley Ridge 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
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$868
Property Tax -$431
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$227

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.

$250,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.7%
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

PROJECTED ANNUAL CASH FLOW

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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$32,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,770

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7503$1,7504$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 1409 Summerwind Lane Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 1602 Juniper Lane Lewisville, TX 1
    • 4 beds 3 baths ∙ 1,733 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,733 Sqft ∙ Built 1983
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.01
    •  
  • 1205 Ottawa Lane Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1997
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 1661 Juniper Lane Lewisville, TX 4
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 1976
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
  • 1557 Summerwind Lane Lewisville, TX 5
    • 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 1986
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kurt Buehler
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 #: 14504250
Last Updated: 01/22/2021
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