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1521 Glenmore Drive Lewisville, TX 75077

3 Beds 2 Baths 2,090 sqft Built 1987

$315,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $150.72
  • 5 Days on Market
  • MLS # : 14452323
  • Updated Date : 10/30/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,090 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

FUN & FABULOUS! This charming one story is sure to wow you with its two spacious living areas and high ceilings, and open feel. Pretty brick fireplace, etched with herringbone accents is a focal point of the great room that lends itself to holiday family gatherings; kitchen is updated with the prettiest of granites, & stainless appliances; gleaming wood engineered floors; classy master bath offers crisp whites with pops of black accents; and once you see this back yard, oh my, you will know you are home. Fire up the chiminea on this Texas-sized patio, overlooking a lushly landcaped yard. An absolute must see, and conveniently located.

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: Lewisville Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $114k336k

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

Neighborhood: Lewisville Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11092171

* 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
Valley Ridge Elementary School Primary Regular 535 40 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Valley Ridge Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 40
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,162
Property Tax -$543
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
$58

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.

$315,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,903

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,043

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9953$2,0104$2,0505$2,075
$2,075
RENT COMPS ANALYSIS
  • 1521 Glenmore Drive Lewisville, TX 3
    • 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.96
    •  
  • 1754 Crosshaven Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 1996
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.95
    •  
  • 1565 Glenmore Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1988
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.02
    •  
  • 1432 Sunswept Terrace Lewisville, TX 4
    • 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,251 Sqft ∙ Built 1995
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 1605 Yellowstone Avenue Lewisville, TX 5
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1998
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kathy Kiefer
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 #: 14452323
Last Updated: 10/30/2020
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