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1595 Thornhill Lane Little Elm, TX 75068

3 Beds 3 Baths 1,983 sqft Built 2002

$252,250

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $127.21
  • 7 Days on Market
  • MLS # : 14478409
  • Updated Date : 12/04/2020 at 18:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,983 sqft
  • Baths : 2 full , 1 half
Listing Agent

Chavez Realty Group

Listing Agent's Description

***NO FURTHER SHOWINGS! MULTIPLE OFFERS!!! *** Fantastic home ready for new owners. This home boasts an amazing backyard living set up! Covered patio and small workshop with electricity is in the back. No neighbors directly behind and larger lot, so plenty of room to enjoy and live it up. Inside the home, BRAND NEW carpet throughout the upstairs, downstairs flooring replaced in 2019, solar screens on windows and newer appliances. The main bedroom is HUGE and the closet sports custom cabinetry organization units.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Wynfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $117k308k

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

Neighborhood: Wynfield Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10261912

* 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
Brent Elementary School Primary Regular 627 40 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Brent Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 40
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$227,025$277,475$252,250

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$931
Property Tax -$529
Property Insurance -$142
HOA -$29
Property Management Fees -$99
CASH FLOW
-$59

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.

$252,250

PROJECTED PRICE

$1,670

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.8%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,596

INVESTMENT

$72,596

Down Payment
$63,063
Rehab Estimate
$5,750
Closing Costs
$3,784

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$931

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,063
Loan Amount $189,188
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,886

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,770

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6704$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1595 Thornhill Lane Little Elm, TX 3
    • 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,983 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.84
    •  
  • 1535 Thornhill Lane Little Elm, TX 1
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2002
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 1716 Creek Bend Lane Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 1701 Canyon Oaks Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,087 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,087 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 1600 Brookstone Drive Little Elm, TX 5
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 2004
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
PROPERTY LISTING DETAILS
Deanna Chavez
Chavez Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478409
Last Updated: 12/04/2020
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