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1800 Abby Creek Drive Little Elm, TX 75068

3 Beds 2 Baths 1,434 sqft Built 2014

$220,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $153.42
  • 3 Days on Market
  • MLS # : 14482734
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Remarkable single-story home located on a spacious interior lot that backs up to a greenbelt and open space in a quiet subdivision close to schools, parks, and Lake Lewisville. Open concept with generous room sizes and abundant natural light throughout the home. The living room has a beautiful recessed ceiling with crown molding and an upgraded fan. The kitchen offers an island with a breakfast bar and a pantry. The master suite features a walk-in closet, recessed ceiling, and a luxurious 5-piece bathroom. Guest bedrooms are of a good size. Shaded patio and private yard. The home is cleaned and disinfected on a regular basis. Move-in ready.

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: 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
Providence Elementary School Primary Regular 657 42 6
Navo Middle School Middle Regular 1,077 65 7
Denton High School High Regular 2,166 140 6

Providence Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 42
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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$812
Property Tax -$461
Property Insurance -$110
HOA -$31
Property Management Fees -$99
CASH FLOW
$57

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.

$220,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.71%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$16,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5703$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1800 Abby Creek Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.09
    •  
  • 1013 Villa Paloma Boulevard Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 2012
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.11
    •  
  • 1432 Abby Creek Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 2014
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
  • 1317 Rivers Creek Lane Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 2014
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.15
    •  
  • 908 Hawk Valley Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2012
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Alexandra Clement
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482734
Last Updated: 12/11/2020
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