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1608 Serra Drive 
Little Elm, TX
75068
3 Beds 4 Baths 3,332 sqft
Built 2017
INVESTimate
$450,000
List Price
$125,000
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PROPERTY INFO
FACTS
- Built In 2017
- Price/Sqft : $135.05
- 3 Days on Market
- MLS # : 14419555
- Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
- Beds : 3
- Floor Size : 3,332 sqft
- Baths : 3 full , 1 half
Listing Agent
Dfw Legacy Group
Listing Agent's Description
Beautiful and immaculate home in Valencia On The Lake. So much to love about the open floor plan full of natural light. Great office space with french doors and large window. Nice and bright kitchen and breakfast area, spacious living room with fireplace. Master bedroom has vaulted ceiling and large bathroom with double sinks, tile surround tub and large walk in shower. You will love the upstairs game room and adjacent media and movie room that's full of built ins and a wet bar! The large backyard has plenty of room for playing or entertaining family and friends, and lots of free space to design the backyard of your dreams! Buyer or buyers agent to verify all information including measurements, schools and HOA
SEE MORE
- . 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
Zip Code: 75068
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75068
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,210 |
| EXPENSES | Loan Payment | -$1,660 |
| Property Tax | -$943 | |
| Property Insurance | -$220 | |
| HOA | -$38 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$750
|
||
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.
$450,000
PROJECTED PRICE
$2,210
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 7.57% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$125,000
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,500 |
| Loan Amount | $337,500 |
-0.08
YEARS SAVED
-$2
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,210
LIST RENT -
$0.66
LIST RENT PER SQFT
-
$2,257
COMP ESTIMATED VALUE -
$0.68
COMP AVG. RENT PER SQFT
Comps Range
-
1608 Serra Drive Little Elm, TX 2
- 3 beds 4 baths ∙ 3,332 Sqft ∙ Built 2017 3 beds 4 baths ∙ 3,332 Sqft ∙ Built 2017
- Rent
- Rent Per SQFT
- $2,210
- $0.66
-
2404 Jill Creek Drive Little Elm, TX 1
- 4 beds 3 baths ∙ 3,286 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,286 Sqft ∙ Built 2015
LEASED 02/24/20- Rent
- Rent Per SQFT
- $2,195
- $0.67
-
2017 Gayla Creek Little Elm, TX 3
- 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,300 Sqft ∙ Built 2016
LEASED 08/14/20- Rent
- Rent Per SQFT
- $2,245
- $0.68
-
2016 Gayla Creek Drive Little Elm, TX 4
- 4 beds 4 baths ∙ 3,342 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,342 Sqft ∙ Built 2015
LEASED 03/14/20- Rent
- Rent Per SQFT
- $2,300
- $0.69
-
3018 Sundance Drive Little Elm, TX 5
- 4 beds 4 baths ∙ 3,514 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,514 Sqft ∙ Built 2006
LEASED 03/03/20- Rent
- Rent Per SQFT
- $2,350
- $0.67
PROPERTY LISTING DETAILS
Dfw Legacy Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14419555
Last Updated: 08/25/2020
