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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wynfield Farms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$72,596
LOAN DETAILS
$931
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $63,063 |
| Loan Amount | $189,188 |
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
-
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
Chavez Realty Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14478409
Last Updated: 12/04/2020
