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1409 Water Lily Drive Little Elm, TX 75068

4 Beds 2 Baths 1,784 sqft Built 2004

$259,900

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $145.68
  • 3 Days on Market
  • MLS # : 14466208
  • Updated Date : 11/06/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Robert Elliott And Associates

Listing Agent's Description

This move-in ready one-story home is perfect for those looking for a community with resort-style amenities like walking trails, green-space, pools, playgrounds & basketball courts. Inside you'll find a large open living space with elegant wood floors & split good size sec bedrooms. Spacious kitchen opens to the family room & boasts tile floors, granite counters, & travertine backsplash. Large & pvt master bedroom features a master bath with dual sinks & garden tub. Updates include a new roof (Oct 2020) & wood floors. Good size backyard with an open patio is great to enjoy the outdoors. Close to schools. Located less than 10 miles to Lake Lewisville, Star in Frisco, Toyota Stadium & restaurants-shopping.

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: Sunset Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: Sunset Pointe

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
Lakeview Elementary School Primary Regular 581 38 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$959
Property Tax -$545
Property Insurance -$130
HOA -$50
Property Management Fees -$99
CASH FLOW
-$143

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.

$259,900

PROJECTED PRICE

$1,640

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,159

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6403$1,7504$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 1409 Water Lily Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.92
    •  
  • 1437 Sun Breeze Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2005
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.91
    •  
  • 1473 Waterford Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2005
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 2744 Morning Song Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2014
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
  • 2732 Morning Song Drive Little Elm, TX 5
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2005
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Jeff Cheney
Robert Elliott And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466208
Last Updated: 11/06/2020
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