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1465 Lakeview Drive Pelican Bay, TX 76020

4 Beds 2 Baths 1,790 sqft Built 2021

$244,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $136.31
  • 2 Days on Market
  • MLS # : 14475397
  • Updated Date : 11/21/2020 at 17:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,790 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Come see this wonderful new neighborhood at LAKEVIEW ESTATES in Pelican Bay just 5 minutes from Eagle Mountain Lake. This gorgeous 2021 Carnegie Home has a spacious open floorplan with 4 bedrooms, 2 full baths. Master has soaking tub, separate shower, dual vanities and huge walk in closet. 2nd bath has Jack and Jill style bathroom with two vanities. Kitchen features a granite countertops, walk in pantry, stainless appliances and huge island. Cozy fireplace in living room. Covered patio in back. Mud room, too! Brick on all sides of the home. Smart home features for modern living. Energy Star certified ensures low energy bills. Radiant barrier, low E vinyl energy efficient windows, sprinkler system, fully sodded.

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: 76020

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76020

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9121734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$219,600$268,400$244,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$900
Property Tax -$531
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$319

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$244,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,660

INVESTMENT

$66,660

Down Payment
$61,000
Rehab Estimate
$2,000
Closing Costs
$3,660

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,000
Loan Amount $183,000
See What Happens When You Reinvest Cash Flow

11.5

YEARS SAVED

$51,472

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6004$1,7005$1,980
$1,980
RENT COMPS ANALYSIS
  • 1465 Lakeview Drive Pelican Bay, TX 5
    • 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,790 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.11
    •  
  • 121 Dennis Drive Azle, TX 1
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2019
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 128 Dennis Drive Azle, TX 2
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2020
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 720 Kriston Drive Azle, TX 3
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2007
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 1328 E Surfside Drive Azle, TX 4
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2018
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.17
    •  
PROPERTY LISTING DETAILS
Sherri Blasingame
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475397
Last Updated: 11/21/2020
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