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14618 Riverside Drive Little Elm, TX 75068

3 Beds 2 Baths 1,760 sqft Built 2012

$289,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $164.20
  • 4 Days on Market
  • MLS # : 14503507
  • Updated Date : 01/21/2021 at 14:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,760 sqft
  • Baths : 2 full
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

Charming and immaculate one story home that backs up to a pond and greenbelt. The oversized backyard offers covered patio and wood deck overlooking the pond and a nearby fountain and has children's playground. This Frisco ISD home also has two split bedrooms and bathroom plus a good sized master suite. Open floor plan, high ceilings, light and bright eat-in kitchen with upscale KitchenAid black stainless steel appliances, granite counter tops, and breakfast bar. Large living area with fireplace. The community has a Large swimming pool, playground, and Greenbelt trail. Wood fence newly stained. NEST HVAC control and RACHIO sprinkler control.

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: Frisco Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Frisco Ranch

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
Miller Elementary School Primary Regular NA
Sue Wilson Stafford Middle School Middle Regular 1,146 78 10
Lone Star High School High Regular 1,365 105 NA

Miller Elementary School

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

Sue Wilson Stafford Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 78
10
GreatSchools Rating

Lone Star High School

  • Education Level: High
  • # of students: 1,365
  • # of teachers: 105
NA
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,004
Property Tax -$606
Property Insurance -$129
HOA -$36
Property Management Fees -$99
CASH FLOW
-$153

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.

$289,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$3,500

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6983$1,7004$1,7005$1,720
$1,720
RENT COMPS ANALYSIS
  • 14618 Riverside Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.98
    •  
  • 1213 Lone Pine Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 2012
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 214 Timber Drive Princeton, TX 2
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 2015
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,698
    • $0.96
    •  
  • 1405 Lone Pine Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2013
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
  • 14517 Crystal Lake Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2003
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
PROPERTY LISTING DETAILS
Basil Bandek
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503507
Last Updated: 01/21/2021
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