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1508 Nighthawk Drive Little Elm, TX 75068

3 Beds 2 Baths 1,720 sqft Built 2006

$250,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $145.35
  • 3 Days on Market
  • MLS # : 14469860
  • Updated Date : 11/20/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,720 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Great opportunity to live in popular Paloma Creek, with trails, parks, pools, clubhouse! This cozy 3 bedroom 2 bath home has fresh paint and carpet. Eat in kitchen is light and bright with granite countertops, white cabinets overlooking dining and living area. Large master suite, bath has dual sinks, separate shower and garden tub! Outside has ample room for all the toys or even a pool! Ask us how you can save over $4500 out of pocket with our preferred lender!

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: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

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
Paloma Creek Elementary School Primary Regular 670 41 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Paloma Creek Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 41
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$922
Property Tax -$524
Property Insurance -$127
HOA -$28
Property Management Fees -$99
CASH FLOW
$10

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.

$250,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,222

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,707

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7103$1,7504$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 1508 Nighthawk Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.99
    •  
  • 1713 Kittyhawk Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 1516 Canary Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
  • 300 Bluefinch Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2007
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
  • 1430 Sparrow Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.00
    •  
PROPERTY LISTING DETAILS
Robyn Heathcock
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469860
Last Updated: 11/20/2020
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