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14104 Sparrow Hill Drive Little Elm, TX 75068

4 Beds 3 Baths 3,244 sqft Built 2012

$425,000

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $131.01
  • 4 Days on Market
  • MLS # : 14522426
  • Updated Date : 03/13/2021 at 09:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,244 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

NORTH FACING Grand Homes Edinbourgh lll floor plan, with 4 beds, and 3 baths in FRISCO ISD. Lofty two story ceilings and open concept floor plan allow for tons of natural light! Formal dining and sitting area with wood floors in the front could be used as home office. Master suite and guest room with full bath downstairs, game room, media, two beds and full bath up. Kitchen offers large center island, gas cooktop, stainless steel appliances and eat in breakfast area. Perfect backyard for entertaining features pergola and built in firepit. Walking distance to elementary school, playgrounds, and pool. TOTAL TAX RATE ONLY 2.25. HOA $450

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

Zip Code: 75068

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 75068

ZipNIR 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
Miller Elementary School Primary Unknown NA
Trent Middle School Middle Regular NA
Memorial High School High Unknown NA

Miller Elementary School

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

Trent Middle School

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

Memorial High School

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

$382,500$467,500$425,000

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,476
Property Tax -$891
Property Insurance -$215
HOA -$38
Property Management Fees -$99
CASH FLOW
-$328

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.

$425,000

PROJECTED PRICE

$2,390

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,913

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,538

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,390
1$2,3902$2,4753$2,4954$2,5505$2,900
$2,900
RENT COMPS ANALYSIS
  • 14104 Sparrow Hill Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 3,244 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,244 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.74
    •  
  • 14212 Winter Hill Drive Little Elm, TX 2
    • 4 beds 4 baths ∙ 3,251 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,251 Sqft ∙ Built 2014
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.76
    •  
  • 829 Mist Flower Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,400 Sqft ∙ Built 2014
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.73
    •  
  • 704 Yarrow Street Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,273 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,273 Sqft ∙ Built 2016
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.78
    •  
  • 409 Cavanal Hill Drive Little Elm, TX 5
    • 5 beds 4 baths ∙ 3,371 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,371 Sqft ∙ Built 2016
    property image
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.86
    •  
PROPERTY LISTING DETAILS
Angela Taylor
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522426
Last Updated: 03/13/2021
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