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1702 Creekbend Drive Lewisville, TX 75067

4 Beds 3 Baths 1,707 sqft Built 1992

$259,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $152.26
  • 2 Days on Market
  • MLS # : 14514039
  • Updated Date : 02/06/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,707 sqft
  • Baths : 2 full , 1 half
Listing Agent

Real

Listing Agent's Description

Charming and secluded home just seconds away from a greenbelt that will sure to please! Updates include new carpet and paint throughout and a new privacy fence installed just a few years ago. Separate living and dining room right off the front entry will make entertaining simple yet enjoyable. All bedrooms are upstairs with a spacious primary bedroom and bathroom for any owner to enjoy. A very rare find in this community make sure to schedule today.

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: Creekview Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $108k336k

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

Neighborhood: Creekview Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10242171

* 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
Creekside Elementary School Primary Regular 495 35 5
Hedrick Middle School Middle Regular 672 56 4
Lewisville High School Harmon Campus High Regular NA

Creekside Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 35
5
GreatSchools Rating

Hedrick Middle School

  • Education Level: Middle
  • # of students: 672
  • # of teachers: 56
4
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$903
Property Tax -$448
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
$194

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.

$259,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.9%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$29,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,899

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7403$1,7504$1,7705$1,800
$1,800
RENT COMPS ANALYSIS
  • 1702 Creekbend Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 1,707 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,707 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $1.04
    •  
  • 1441 Creekview Drive Lewisville, TX 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 1995
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 1237 Marchant Place Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1999
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.12
    •  
  • 1702 Shady Creek Drive Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1994
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
  • 1725 Shady Creek Drive Lewisville, TX 5
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1994
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.06
    •  
PROPERTY LISTING DETAILS
K.c. Mckeown
Real
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514039
Last Updated: 02/06/2021
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