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1845 Meyerwood Lane Flower Mound, TX 75028

4 Beds 3 Baths 2,362 sqft Built 1993

$328,850

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $139.23
  • 4 Days on Market
  • MLS # : 14471856
  • Updated Date : 11/21/2020 at 15:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,362 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Real Estate Dfw

Listing Agent's Description

Serene by day Magical by night, Lovely two story in Timber Creek Park. Original owner Updated distressed hardwoods throughout, Granite counters, roof in 2016. Formal living and dining. Family room with fireplace open to kitchen with bar and cozy breakfast area. All bedrooms upstairs. Pool, Spa extended decking great backyard for entertaining family and friends.

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
 

$295,965$361,735$328,850

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,213
Property Tax -$584
Property Insurance -$164
Property Management Fees -$99
CASH FLOW
$230

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.

$328,850

PROJECTED PRICE

$2,290

PROJECTED RENT

0.70%

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$0.0$5.0k$10k$15k

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$92,895

INVESTMENT

$92,895

Down Payment
$82,213
Rehab Estimate
$5,750
Closing Costs
$4,933

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,213

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,213
Loan Amount $246,638
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$42,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,380

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,2903$2,3004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1845 Meyerwood Lane Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.97
    •  
  • 1801 Ingleside Drive Flower Mound, TX 1
    • 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
    •  
  • 1809 Newton Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 1994
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.02
    •  
  • 1700 Meyerwood Lane Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1994
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 4924 Timberview Drive Flower Mound, TX 5
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1993
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Linda Chastain
United Real Estate Dfw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471856
Last Updated: 11/21/2020
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