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1510 Wood Creek Flower Mound, TX 75028

3 Beds 3 Baths 1,984 sqft Built 1980

$347,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $174.90
  • 7 Days on Market
  • MLS # : 14471129
  • Updated Date : 11/20/2020 at 15:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,984 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Castle Realty

Listing Agent's Description

Recently renovated, beautiful spacious open layout, with a large living room, incredible large family room with its own half bath that leads to a double-jointed deck and a large private backyard. Great master bedroom with a barn door leading to the master bath, vaulted ceiling, brick fireplace, granite, and marble bathroom, beautiful granite counter-top kitchen with an out of this world island. In a vibrant community with close proximity to highly rated schools. Come see your new beautiful home!

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: Timber Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Timber Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $11022573

* 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
Forest Vista Elementary School Primary Regular 546 37 9
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Forest Vista Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 37
9
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$312,300$381,700$347,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,280
Property Tax -$599
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$220

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.

$347,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$97,705

INVESTMENT

$97,705

Down Payment
$86,750
Rehab Estimate
$5,750
Closing Costs
$5,205

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,280

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,750
Loan Amount $260,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$5,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7503$1,7954$1,7955$1,900
$1,900
RENT COMPS ANALYSIS
  • 1510 Wood Creek Flower Mound, TX 5
    • 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,984 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 1503 Carnation Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1973
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 1533 Carnation Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1973
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 1207 River Oaks Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 1,973 Sqft ∙ Built 1976 4 beds 3 baths ∙ 1,973 Sqft ∙ Built 1976
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 1402 Di Orio Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1998
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
PROPERTY LISTING DETAILS
Gary Bisha
My Castle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471129
Last Updated: 11/20/2020
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