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1880 Barton Springs Drive Little Elm, TX 75068

3 Beds 2 Baths 1,669 sqft Built 2002

$265,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $158.78
  • 3 Days on Market
  • MLS # : 14470927
  • Updated Date : 11/13/2020 at 14:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,669 sqft
  • Baths : 2 full
Listing Agent

Briggs Freeman Sotheby's Int’l

Listing Agent's Description

Light, Bright and Open - Completely renovated in 2019 - home is ready for your family! Welcoming open floor plan with plenty of space for family living. This 3 Bedroom, 2 Bath home has a new kitchen, luxury vinyl flooring throughout, new bathrooms and a super elegant large master shower! High ceilings with a modern fireplace wall make this the perfect place to get cozy and relax. Roof replaced in 2019 with a 2-car Garage and large grassy yard with covered patio area. Close to schools, the lake and shopping. Great location and 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: Glen Cove

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k308k

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

Neighborhood: Glen Cove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10571912

* 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
Brent Elementary School Primary Regular 627 40 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Brent Elementary School

  • Education Level: Primary
  • # of students: 627
  • # of teachers: 40
6
GreatSchools Rating

Lakeside Middle School

  • Education Level: Middle
  • # of students: 1,181
  • # of teachers: 69
3
GreatSchools Rating

Little Elm High School

  • Education Level: High
  • # of students: 1,866
  • # of teachers: 97
6
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$978
Property Tax -$555
Property Insurance -$124
HOA -$28
Property Management Fees -$99
CASH FLOW
-$193

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,5954$1,6255$1,750
$1,750
RENT COMPS ANALYSIS
  • 1880 Barton Springs Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.95
    •  
  • 1637 Myrtle Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 2002
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 1562 Crown View Drive Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2005
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 1616 Brookstone Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2004
    property image
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.03
    •  
  • 1567 Crown View Drive Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2000
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Gina Lester
Briggs Freeman Sotheby's Int’l
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470927
Last Updated: 11/13/2020
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