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1721 Kingston Lane Flower Mound, TX 75028

3 Beds 3 Baths 1,977 sqft Built 1993

$315,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $159.33
  • 3 Days on Market
  • MLS # : 14503937
  • Updated Date : 01/22/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,977 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors/fm

Listing Agent's Description

Lovely updated home in established neighborhood with an abundance of mature trees. Feat include wood floors in entry, formal living, dining & family room. Striking oversized tile in kitchen & breakfast area. 2 story entry, crown molding & picture frame moldings. Stacked formal living & dining room. Kit w ss appl, tile counters and brkfst bar for extra seating. Fam feat gas log FP w tile surround & wood mantle. Mstr boasts bath w sep shower garden tub, sep vanities & WIC. Both full baths have been updated w oversized tile & lighting. 2nd beds have WIC. All windows have been replaced. BY w stamped concrete extended patio & plenty of space for play. Board on board fence. Close to excellent schools & multiple parks

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: Timber Creek Park

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Timber Creek Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Timber Creek Elementary School Primary Regular 470 32 8
Lamar Middle School Middle Regular 764 51 9
Marcus High School High Regular 2,439 151 8

Timber Creek Elementary School

  • Education Level: Primary
  • # of students: 470
  • # of teachers: 32
8
GreatSchools Rating

Lamar Middle School

  • Education Level: Middle
  • # of students: 764
  • # of teachers: 51
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,094
Property Tax -$544
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
$112

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.

$315,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$24,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,026

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9904$2,0705$2,125
$2,125
RENT COMPS ANALYSIS
  • 1721 Kingston Lane Flower Mound, TX 3
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.01
    •  
  • 4601 Sandera Lane Flower Mound, TX 1
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1991
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 1817 Newton Drive Flower Mound, TX 2
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1994
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 4621 Sandera Lane Flower Mound, TX 4
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 1992
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $1.03
    •  
  • 1801 Ingleside Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,176 Sqft ∙ Built 1993
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jean M Seth
Ebby Halliday, Realtors/fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503937
Last Updated: 01/22/2021
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