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1612 Zebra Finch Drive Little Elm, TX 75068

4 Beds 2 Baths 2,041 sqft Built 2015

$314,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $154.29
  • 3 Days on Market
  • MLS # : 14513367
  • Updated Date : 02/06/2021 at 22:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,041 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

Gorgeous Gem located in Paloma Creek. Neighborhood amenities include 4 pools, splash park, 3 club houses, playgrounds, dog park & 2 fitness centers. This spacious open floor plan has a private office with French doors located at the front of the house. Kitchen upgrades include granite countertops, designer tile backsplash, large island, custom cabinets, serving bar, upgraded SS appliances with gas cooktop & large walk-in pantry. The large family room has great natural light. The marvelous master suite has a large window seat & comes with luxurious bath, shower, soaking tub. The spacious back yard has a additional shed for storage. Solar panels make this home energy efficient. Buyer to assume solar panel loan.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Paloma Creek Elementary School Primary Regular 670 41 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Paloma Creek Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 41
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,094
Property Tax -$660
Property Insurance -$145
HOA -$31
Property Management Fees -$99
CASH FLOW
-$179

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.

$314,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,327

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 1612 Zebra Finch Drive Little Elm, TX 4
    • 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1717 Yellowthroat Drive Little Elm, TX 1
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2018
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1609 Yellowthroat Drive Little Elm, TX 2
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2018
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1629 Yellowthroat Drive Little Elm, TX 3
    • 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2018
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 1528 Zebra Finch Drive Little Elm, TX 5
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 2015
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
PROPERTY LISTING DETAILS
Nancy Messiha
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513367
Last Updated: 02/06/2021
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