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1762 Clarendon Drive Lewisville, TX 75067

4 Beds 2 Baths 1,857 sqft Built 1984

$309,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $166.88
  • 2 Days on Market
  • MLS # : 14475036
  • Updated Date : 11/21/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,857 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Beautifully updated single story home with 4 bedrooms, 2 full baths with a spacious backyard and covered patio that is perfect for entertaining! Chefs kitchen with fresh neutral paint, SS appliances, double ovens and slab Granite. Living room is open to kitchen and breakfast area with hardwood floors, gas fireplace, fresh neutral paint, tall ceilings and natural light. 3 secondary bedrooms with neutral paint and ceiling fans. 2 rooms have new carpet and third bedroom has laminate floors. Updated full bath in the hallway with separate sink areas and Granite. Master bedroom with hardwood floors and neutral paint. Master bath with updated vanities, 2 closets and separate shower. Welcome Home!

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: Lewisville Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $114k336k

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

Neighborhood: Lewisville Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11092171

* 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
Degan Elementary School Primary Regular 650 41 5
Huffines Middle School Middle Regular 842 59 4
Lewisville High School High Regular 1,987 117 5

Degan Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 41
5
GreatSchools Rating

Huffines Middle School

  • Education Level: Middle
  • # of students: 842
  • # of teachers: 59
4
GreatSchools Rating

Lewisville High School

  • Education Level: High
  • # of students: 1,987
  • # of teachers: 117
5
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,143
Property Tax -$534
Property Insurance -$135
Property Management Fees -$99
CASH FLOW
$59

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.

$309,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.6%
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$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$23,867

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,941

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8003$1,8504$1,9505$1,970
$1,970
RENT COMPS ANALYSIS
  • 1762 Clarendon Drive Lewisville, TX 5
    • 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,857 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $1.06
    •  
  • 906 Edgefield Trail Flower Mound, TX 1
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 1983
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 919 Edgefield Trail Flower Mound, TX 2
    • 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,677 Sqft ∙ Built 1983
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 1762 Glencairn Lane Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1984
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 1857 Chisolm Trail Lewisville, TX 4
    • 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,940 Sqft ∙ Built 1978
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kathy Croft
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475036
Last Updated: 11/21/2020
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