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1728 Ringtail Drive Little Elm, TX 75068

5 Beds 4 Baths 3,194 sqft Built 2007

$319,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $99.87
  • 2 Days on Market
  • MLS # : 14521500
  • Updated Date : 03/06/2021 at 20:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,194 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

This charming 5 bedroom, 3.5 bath home is ready for your family! It has all the mechanical updates for hassle free living. New Roof, HVAC system and painted siding! Great floor plan for a large family this home will not disappoint. There are 2 large living spaces, a big kitchen for entertaining and owners suite on the main floor. Upstairs has 4 additional large bedrooms, 2 full bathrooms as well as a game room! The spacious backyard has a new board on board fence for privacy, Covered patio and extended slab. Oversized 2 car garage. PLEASE NOTE: There is a tenant in place until June 30th of this year. $3,000 carpet and professional cleaning allowance with accepted offer. OPEN HOUSE: Sunday, March 7th 12-5

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: Paloma Creek South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Paloma Creek South

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
Paloma Creek Elementary School Primary Regular 670 41 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Paloma Creek Elementary School

  • Education Level: Primary
  • # of students: 670
  • # of teachers: 41
6
GreatSchools Rating

Navo Middle School

  • Education Level: Middle
  • # of students: 1,077
  • # of teachers: 65
7
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,108
Property Tax -$669
Property Insurance -$212
HOA -$28
Property Management Fees -$99
CASH FLOW
$105

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.

$319,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,108

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$21,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1503$2,2204$2,2505$2,280
$2,280
RENT COMPS ANALYSIS
  • 1728 Ringtail Drive Little Elm, TX 3
    • 5 beds 4 baths ∙ 3,194 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,194 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.70
    •  
  • 1528 Canary Drive Little Elm, TX 1
    • 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 2006
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.67
    •  
  • 1008 Water Garden Circle Little Elm, TX 2
    • 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,035 Sqft ∙ Built 2017
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.71
    •  
  • 1433 Sparrow Drive Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,037 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,037 Sqft ∙ Built 2005
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 2208 Eppright Drive Little Elm, TX 5
    • 4 beds 3 baths ∙ 3,257 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,257 Sqft ∙ Built 2013
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.70
    •  
PROPERTY LISTING DETAILS
Jeff Cayford
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521500
Last Updated: 03/06/2021
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