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1692 Castle Rock Drive Lewisville, TX 75077

4 Beds 3 Baths 2,548 sqft Built 1996

$350,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $137.36
  • 3 Days on Market
  • MLS # : 14483782
  • Updated Date : 12/12/2020 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,548 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Delightfully renovated home in Lewisville - completely move-in ready! Everything in the interior of the home is brand new - paint, flooring, light fixtures; kitchen with a granite waterfall island, built-in cabinets, and a walk-in pantry. Light and bright living room overlooks the backyard & has an easy transition between the dining area & kitchen. Enjoy the downstairs study & two bedrooms at the front of the house that share a beautiful full bath with dual sinks. Spacious master bedroom has a sitting area, remodeled bathroom with dual sinks & a separate shower, plus a walk-in closet! Upstairs you will find the huge 4th bedroom with a full bath! Roof & HVAC replaced in 2020.

SEE MORE

MARKET HIGHLIGHTS

  • . 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

Neighborhood: Garden Oak Est

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Garden Oak Est

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
Valley Ridge Elementary School Primary Regular 535 40 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Valley Ridge Elementary School

  • Education Level: Primary
  • # of students: 535
  • # of teachers: 40
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,291
Property Tax -$604
Property Insurance -$174
Property Management Fees -$99
CASH FLOW
-$38

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.

$350,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$17,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,230

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,0503$2,0954$2,1305$2,350
$2,350
RENT COMPS ANALYSIS
  • 1692 Castle Rock Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.84
    •  
  • 5410 Gregory Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 1983
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.80
    •  
  • 5328 Buckner Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,404 Sqft ∙ Built 1983
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
  • 1344 Parma Drive Lewisville, TX 3
    • 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 1998
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.88
    •  
  • 1208 Elmhurst Lane Flower Mound, TX 5
    • 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,411 Sqft ∙ Built 1998
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jd Tomlin
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483782
Last Updated: 12/12/2020
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