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1505 Waterfall Lane Little Elm, TX 75068

3 Beds 3 Baths 2,464 sqft Built 2011

$349,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $141.64
  • 4 Days on Market
  • MLS # : 14521307
  • Updated Date : 02/27/2021 at 08:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,464 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Four Corners

Listing Agent's Description

Waterfall on the lake. This beautiful North facing entry home feels new and might have your friends begging to come over. The kitchen has large luxurious cabinets with crown molding. An open floor plan allows you to entertain and have line of sight from the kitchen through the living room. Upstairs you have a large loft with beautiful views overlooking the lake. You can enjoy the large master bedroom with an extra sitting room that could be your own workout room or study. The backyard has plenty of room to put in a pool or just enjoy a BBQ under the big sky. Contact LA Elizabeth Hardwick for all inquiries and offers. 4698502170 elizabethtxrealtor@gmail.com

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
 

$314,100$383,900$349,000

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 -$1,212
Property Tax -$732
Property Insurance -$170
HOA -$50
Property Management Fees -$99
CASH FLOW
-$282

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.

$349,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.57%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,366

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
  • $0.8

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,8004$1,8255$1,980
$1,980
RENT COMPS ANALYSIS
  • 1505 Waterfall Lane Little Elm, TX 5
    • 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.80
    •  
  • 1400 Puerto Lago Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,592 Sqft ∙ Built 2006
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.64
    •  
  • 1433 Puerto Lago Drive Little Elm, TX 2
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2006
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 1305 Water Lily Drive Little Elm, TX 3
    • 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,595 Sqft ∙ Built 2006
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 2796 Coyote Trail Little Elm, TX 4
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2005
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.76
    •  
PROPERTY LISTING DETAILS
Toni Evans Morrow
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521307
Last Updated: 02/27/2021
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