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1709 Liberty Drive Providence Village, TX 76227

4 Beds 4 Baths 3,074 sqft Built 2008

$305,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $99.22
  • 4 Days on Market
  • MLS # : 14480674
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,074 sqft
  • Baths : 3 full , 1 half
Listing Agent

Era Starcrest Realty

Listing Agent's Description

Great home on a great lot in a great neighborhood, dont miss this house. Huge kitchen with tons of counterspace. Spacious living area with custom built entertainment cabinet. Large master with sitting area. 3 good sized bedrooms upstairs with 2 full baths. 3 living areas. Shaded back yard with extra patio and arbor. Roof mounted solar system that contributes to very low electric bills. Home is across the street from a park and playground. Also enjoy the many pools and amenities of Providence Village. Aubrey ISD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Island Village at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $116k336k

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

Neighborhood: Island Village at Providence

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
Monaco Elementary School Primary Regular 642 36 6
Aubrey Middle School Middle Regular 484 29 7
Aubrey High School High Regular 585 36 6

Monaco Elementary School

  • Education Level: Primary
  • # of students: 642
  • # of teachers: 36
6
GreatSchools Rating

Aubrey Middle School

  • Education Level: Middle
  • # of students: 484
  • # of teachers: 29
7
GreatSchools Rating

Aubrey High School

  • Education Level: High
  • # of students: 585
  • # of teachers: 36
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,125
Property Tax -$652
Property Insurance -$205
HOA -$120
Property Management Fees -$99
CASH FLOW
-$81

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.

$305,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.1%
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$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,259

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,0504$2,1205$2,200
$2,200
RENT COMPS ANALYSIS
  • 1709 Liberty Drive Providence Village, TX 4
    • 4 beds 4 baths ∙ 3,074 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,074 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.69
    •  
  • 9027 Greene Drive Providence Village, TX 1
    • 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2013
    property image
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.69
    •  
  • 9232 Blackstone Drive Providence Village, TX 2
    • 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2015
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 1621 Degnen Lane Aubrey, TX 3
    • 5 beds 4 baths ∙ 2,805 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,805 Sqft ∙ Built 2006
    property image
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.73
    •  
  • 10351 Cedar Lake Drive Providence Village, TX 5
    • 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2013
    property image
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lance Talkington
Era Starcrest Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480674
Last Updated: 12/04/2020
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