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1720 Southwicke Drive Flower Mound, TX 75022

5 Beds 4 Baths 3,379 sqft Built 1997

$498,000

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $147.38
  • 23 Days on Market
  • MLS # : 14475688
  • Updated Date : 12/12/2020 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,379 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

THIS BEAUTY WON'T LAST LONG! Garage deep enough to park 4-door PU or Suburban. Pool resurfaced & tiled 2 years ago. Granite counter tops in kitchen & upstairs bathrooms. Custom wood & tile staircase. Downstairs 2nd bedroom could be used as study. Custom shower in Master Bath. Wood floors throughout with the exception of tile in the bathrooms, kitchen & laundry room. Carpet in upstairs bedrooms. Double pane tinted windows in family room.Custom window coverings in all rooms. Gas available on back patio. Double oven & microwave in kitchen. Gas cooktop. Surround sound & outside speakers & patio & in pool area. *SELLERS MAINTAIN MINERAL RIGHTS. DOCUMENTS IN TRANSACTION DESK&OFFER INSTR. REALTOR RELATED TO SELLER

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: Stafford Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Stafford Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Old Settlers Elementary School Primary Regular 636 43 10
Shadow Ridge Middle School Middle Regular 721 52 10
Flower Mound High School High Regular 2,550 157 10

Old Settlers Elementary School

  • Education Level: Primary
  • # of students: 636
  • # of teachers: 43
10
GreatSchools Rating

Shadow Ridge Middle School

  • Education Level: Middle
  • # of students: 721
  • # of teachers: 52
10
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$448,200$547,800$498,000

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$1,837
Property Tax -$860
Property Insurance -$222
HOA -$38
Property Management Fees -$99
CASH FLOW
-$26

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.

$498,000

PROJECTED PRICE

$3,030

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 2.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$5.0k$0.0$5.0k$10k$15k$20k$25k

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$137,720

INVESTMENT

$137,720

Down Payment
$124,500
Rehab Estimate
$5,750
Closing Costs
$7,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,837

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,500
Loan Amount $373,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$26,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,999

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,8504$3,0005$3,030
$3,030
RENT COMPS ANALYSIS
  • 1720 Southwicke Drive Flower Mound, TX 5
    • 5 beds 4 baths ∙ 3,379 Sqft ∙ Built 1997 5 beds 4 baths ∙ 3,379 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $0.90
    •  
  • 2717 Stanford Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 1999
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.88
    •  
  • 3628 Parkside Place Flower Mound, TX 2
    • 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 1995 4 beds 3 baths ∙ 3,086 Sqft ∙ Built 1995
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.91
    •  
  • 2408 Harvard Drive Flower Mound, TX 3
    • 5 beds 4 baths ∙ 3,270 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,270 Sqft ∙ Built 1998
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.87
    •  
  • 2025 Winding Creek Boulevard Flower Mound, TX 4
    • 4 beds 5 baths ∙ 3,381 Sqft ∙ Built 1989 4 beds 5 baths ∙ 3,381 Sqft ∙ Built 1989
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kathi Jones
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475688
Last Updated: 12/12/2020
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