Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1909 Ring Teal Lane Flower Mound, TX 75028

4 Beds 3 Baths 2,957 sqft Built 1993

$425,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $143.73
  • 3 Days on Market
  • MLS # : 14500301
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,957 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful, EAST facing, large family home with a pool and spa! 4 bedrooms, 2.1 bathrooms, almost 3000 sf and on a cul-de-sac! Kitchen has granite countertops, tile floors, tons of storage and walk-in pantry. Plantation shutters in much of the house. Wood floors and neutral paint! Recently updated master bath with frameless shower enclosure, granite counters and separate sinks. Huge upstairs game room has wall of built in cabinets and shelves. Outdoor oasis with pool and spa also includes a covered patio, 8 foot board on board fence, storage building and plenty of room to play! Flower Mound schools! Move in ready! Buyers and buyers agent to verify all measurements and school information. OPEN Sun 2-4p

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Tealwood Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Tealwood Oaks

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
Garden Ridge Elementary School Primary Regular 465 30 10
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Garden Ridge Elementary School

  • Education Level: Primary
  • # of students: 465
  • # of teachers: 30
10
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,476
Property Tax -$734
Property Insurance -$198
HOA -$21
Property Management Fees -$99
CASH FLOW
$222

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.

$425,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.5%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$39,094

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,743

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,7003$2,7504$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 1909 Ring Teal Lane Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.93
    •  
  • 1833 Trail Ridge Lane Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,926 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,926 Sqft ∙ Built 1994
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
  • 2221 Lockesley Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1993
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.93
    •  
  • 1304 Big Canyon Drive Flower Mound, TX 4
    • 4 beds 4 baths ∙ 2,931 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,931 Sqft ∙ Built 1998
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.97
    •  
  • 1701 Tree Line Road Flower Mound, TX 5
    • 4 beds 3 baths ∙ 3,027 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,027 Sqft ∙ Built 1998
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.96
    •  
PROPERTY LISTING DETAILS
Virginia Tuggle
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500301
Last Updated: 01/16/2021
BESbswy