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1509 Harvest Glen Drive Flower Mound, TX 75028

4 Beds 3 Baths 2,935 sqft Built 2000

$435,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $148.21
  • 2 Days on Market
  • MLS # : 14465465
  • Updated Date : 11/07/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,935 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Open house Sat 1-3 & Sun 1-3. This home is just what you've been waiting for! Gorgeous updated kitchen, hardwood floors, open living and so much more! From the minute you walk in you feel the difference. Granite counters, island, and stainless appliances. The large bar in kitchen is the perfect place for homework or entertaining friends. Large living down and game room up give everyone space to play. Backyard with fire pit and garden. Awesome location close to shopping, restaurants and schools. This one won't last long. Come see it before it's gone!

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: Stone Hill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k410k

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

Neighborhood: Stone Hill Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262634

* 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
Prairie Trail Elementary School Primary Regular 609 41 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Prairie Trail Elementary School

  • Education Level: Primary
  • # of students: 609
  • # of teachers: 41
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,605
Property Tax -$751
Property Insurance -$197
HOA -$53
Property Management Fees -$99
CASH FLOW
-$194

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.

$435,000

PROJECTED PRICE

$2,510

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$10,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,561

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,5104$2,6955$2,850
$2,850
RENT COMPS ANALYSIS
  • 1509 Harvest Glen Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.86
    •  
  • 1208 Stonehedge Place Flower Mound, TX 1
    • 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,012 Sqft ∙ Built 2000
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
  • 1416 Old Oak Trail Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1998
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
  • 2412 Conroe Court Flower Mound, TX 4
    • 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 2003
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.94
    •  
  • 1800 Morning Mist Trail Flower Mound, TX 5
    • 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 1998
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tamaria Boudreaux
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465465
Last Updated: 11/07/2020
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