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1621 Purgatory Pass Lewisville, TX 75077

3 Beds 2 Baths 2,120 sqft Built 1980

$335,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $158.02
  • 7 Days on Market
  • MLS # : 14518657
  • Updated Date : 02/15/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,120 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Wow! Walking distance to Highland Village Elementary. This 2 Living and 2 Dining beauty features fabulous kitchen updates-Quartz countertops, stainless appliances, farmhouse sink, engineered hardwoods, window seating with extra storage.You cannot help but admire the incredible wall treatments, built-in shelving and modern lighting. A Texas sized, custom barndoor separates the two living spaces for added privacy. Master features dual closets, dual vanities, a separate tub and shower. Updated HVAC, hot water heater, front irrigation, newer roof. French drains, and more. Entertain guest under the large covered patio and huge rear yard. The extra long driveway is perfect for RV parking and even includes hookups.

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: The Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k303k

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

Neighborhood: The Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261943

* 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
Highland Village Elementary School Primary Regular 353 27 6
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Highland Village Elementary School

  • Education Level: Primary
  • # of students: 353
  • # of teachers: 27
6
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,164
Property Tax -$578
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
-$80

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.

$335,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.6%
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

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8953$1,8954$1,9105$2,050
$2,050
RENT COMPS ANALYSIS
  • 1621 Purgatory Pass Lewisville, TX 4
    • 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,120 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.90
    •  
  • 1628 Reno Run Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 1980
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.88
    •  
  • 2210 Campbellcroft Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 1997
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 157 Villa Park Drive Highland Village, TX 3
    • 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,949 Sqft ∙ Built 1972
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 2218 Mallard Court Lewisville, TX 5
    • 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,175 Sqft ∙ Built 1992
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
PROPERTY LISTING DETAILS
Susan Amrhein
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518657
Last Updated: 02/15/2021
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