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1416 Ashby Drive Lewisville, TX 75067

5 Beds 4 Baths 2,666 sqft Built 2013

INVESTimate

$365,000

List Price

$2,430

$2,187 - $2,673

Rent Est.

$395,550  ( +8.37%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2013
  • Price/Sqft : $136.91
  • 9 Days on Market
  • MLS # : 14404546
  • Updated Date : 08/25/2020 at 21:12
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,666 sqft
  • Baths : 4 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful 2-story brick home on a corner lot is move-in ready & impresses on all levels! Hard to find 2 bdrms dwnstrs-Mster with en-suite + a 2nd bdrm with an additional full bth.Upstairs 3 bdrms & 2 full bths, plus a spacious flex space which can be game rm or 2nd liv rm. Rich, wood flooring, granite counter tops & light, neutral color palette add to the appeal of this spacious home. Lots of windows provide tons of natural light & kitchen is open to the living room with its high ceiling and cozy stone fireplace. Kitchen features granite, an island, plenty of work space & a separate brkfast nook with backyard access. Bckyard has good-sized covered patio and fenced yard. Neighborhood Pool! Don't miss this Gem.

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: 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
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,187$2,673$2,430

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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,347
Property Tax -$629
Property Insurance -$181
HOA -$57
Property Management Fees -$99
CASH FLOW
$117

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.

$365,000

PROJECTED PRICE

$2,430

PROJECTED RENT

0.67%

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,347

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$32,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,446

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,4004$2,4305$2,550
$2,550
RENT COMPS ANALYSIS
  • 1416 Ashby Drive Lewisville, TX 4
    • 5 beds 4 baths ∙ 2,666 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,666 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.91
    •  
  • 1713 Shady Creek Drive Lewisville, TX 1
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 1994
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 801 Pebble Ridge Drive Lewisville, TX 2
    • 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
    •  
  • 1404 Ashby Drive Lewisville, TX 3
    • 5 beds 3 baths ∙ 2,556 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,556 Sqft ∙ Built 2013
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.94
    •  
  • 906 Witherby Lane Lewisville, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Christy Mullins
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14404546
Last Updated: 08/25/2020
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