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1918 Maxwell Drive Lewisville, TX 75077

3 Beds 2 Baths 1,795 sqft Built 1980

$275,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $153.20
  • 4 Days on Market
  • MLS # : 14520780
  • Updated Date : 02/27/2021 at 18:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,795 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Charming brick home in a perfect Lewisville location! Large grassy yard and mature landscaping welcome you home. Features of this spacious home include vaulted ceiling, fireplace and custom paint colors throughout. Entry opens nicely into large formal dining room with chandelier and lots of natural lighting. Kitchen features white cabinetry, ceiling fan, and opens into breakfast room. Owners retreat with en-suite and large walk-in closet. Laundry room with hook-ups for full size washer and dryer. Secondary bedrooms with access to full secondary bathroom. Large grassy yard with wood fence and concrete patio and wood decking border complete this home. Convenient to schools, shopping and freeways.

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: The Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k303k

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

Neighborhood: The Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900Rent in $11261943

* 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
Highland Village Elementary School Primary Regular 353 27 6
Briarhill Middle School Middle Regular 955 66 9
Marcus High School High Regular 2,439 151 8

Highland Village Elementary School

  • Education Level: Primary
  • # of students: 353
  • # of teachers: 27
6
GreatSchools Rating

Briarhill Middle School

  • Education Level: Middle
  • # of students: 955
  • # of teachers: 66
9
GreatSchools Rating

Marcus High School

  • Education Level: High
  • # of students: 2,439
  • # of teachers: 151
8
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$955
Property Tax -$474
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$151

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.

$275,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.6%
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$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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$26,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,817

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7953$1,7954$1,8105$1,850
$1,850
RENT COMPS ANALYSIS
  • 1918 Maxwell Drive Lewisville, TX 4
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.01
    •  
  • 1380 Chinaberry Drive Lewisville, TX 1
    • 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,647 Sqft ∙ Built 1985
    property image
    LEASED 01/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.05
    •  
  • 1902 Aspen Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,795 Sqft ∙ Built 1978
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
  • 1926 Ruidoso Run Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1980
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.00
    •  
  • 1930 Aspen Drive Lewisville, TX 5
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1978
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Matt Beaver
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520780
Last Updated: 02/27/2021
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