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1541 Elika Court Lewisville, TX 75067

4 Beds 2 Baths 2,105 sqft Built 2006

$339,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $161.05
  • 3 Days on Market
  • MLS # : 14496544
  • Updated Date : 01/10/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,105 sqft
  • Baths : 2 full
Listing Agent

Your Home Free Llc

Listing Agent's Description

Immaculately maintained single-story in terrific Lewisville location LOADED with upgrades! Inside you will find 4 bedrooms, 2 full baths, formal dining area, 2-car garage, and backyard pool! Upgrades and amenities throughout include rich hardwood flooring, new bedroom flooring 2019, new roof & gutters 2019, new AC unit 2020, water heater 2019, designer paint tones throughout, and MORE! Gourmet kitchen boasts granite countertops with a subway tile backsplash, new SS Samsung appliances installed 2019, new pendant lighting installed 2020, and breakfast bar. Large backyard is an entertainer's delight, complete with a covered patio area, sparkling pool with LED color-changing light, and recently expanded pool deck!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Garden Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280kPrice in $122k291k

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

Neighborhood: Garden Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261939

* 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
Degan Elementary School Primary Regular 650 41 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Degan Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 41
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
 

$305,100$372,900$339,000

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 -$1,177
Property Tax -$585
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
$0

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$339,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,151

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
  • $0.95

    LIST RENT PER SQFT
  • $2,010

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$2,0104$2,0505$2,200
$2,200
RENT COMPS ANALYSIS
  • 1541 Elika Court Lewisville, TX 3
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.95
    •  
  • 1402 Di Orio Drive Lewisville, TX 1
    • 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
    •  
  • 719 N Valley Parkway Lewisville, TX 2
    • 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,936 Sqft ∙ Built 1997
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.01
    •  
  • 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
    •  
  • 585 Calvert Court Lewisville, TX 5
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2004
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
PROPERTY LISTING DETAILS
William T. Nelson
Your Home Free Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496544
Last Updated: 01/10/2021
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