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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $102.88
- 2 Days on Market
- MLS # : 14478054
- Updated Date : 11/28/2020 at 20:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,673 sqft
- Baths : 2 full , 1 half
Listing Agent
Everbright Realty Llc
Listing Agent's Description
Covered front porch, covered patio, stainless steel appliances (gas), ceramic tile backsplash in kitchen, 42 raised panel maple cabinets, ceramic tile fireplace, crown molding, ceramic tile in all wet areas, separate garden tub-shower with double vanity sink, full sprinkler system and security system, recess lighting, 2 custom window blinds, elongated commodes, painted and textured garage. The tenant occupied the property. Monthly rent is $2,200. For investors, the tenant may continue to lease the house. The house is sold as is. No repair negotiations.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paloma Creek South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,960 |
| EXPENSES | Loan Payment | -$1,015 |
| Property Tax | -$584 | |
| Property Insurance | -$182 | |
| HOA | -$28 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$53
|
||
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.
$275,000
PROJECTED PRICE
$1,960
PROJECTED RENT
0.71%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,625
LOAN DETAILS
$1,015
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,750 |
| Loan Amount | $206,250 |
5.42
YEARS SAVED
$18,707
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,960
LIST RENT -
$0.73
LIST RENT PER SQFT
-
$1,945
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
-
1625 Flamingo Drive Little Elm, TX 2
- 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,673 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $1,960
- $0.73
-
1509 Kittyhawk Drive Little Elm, TX 1
- 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 2005
LEASED 06/04/20- Rent
- Rent Per SQFT
- $1,895
- $0.72
-
1736 Kittyhawk Drive Little Elm, TX 3
- 4 beds 4 baths ∙ 2,776 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,776 Sqft ∙ Built 2007
LEASED 07/11/20- Rent
- Rent Per SQFT
- $1,975
- $0.71
-
213 Willet Court Little Elm, TX 4
- 3 beds 3 baths ∙ 2,735 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,735 Sqft ∙ Built 2008
LEASED 04/08/20- Rent
- Rent Per SQFT
- $1,995
- $0.73
-
1616 S Nighthawk Drive Little Elm, TX 5
- 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,648 Sqft ∙ Built 2006
LEASED 07/31/20- Rent
- Rent Per SQFT
- $1,995
- $0.75
PROPERTY LISTING DETAILS
Everbright Realty Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14478054
Last Updated: 11/28/2020
