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1921 Protea Drive Flower Mound, TX 75028

3 Beds 3 Baths 2,500 sqft Built 2020

INVESTimate

$529,990

List Price

$2,090

$1,881 - $2,299

Rent Est.

$566,188  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $212.00
  • 6 Days on Market
  • MLS # : 14418355
  • Updated Date : 08/21/2020 at 12:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,500 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

AVAILABLE NOW WITH OVER $18K IN UPGRADES! Welcome to a luxurious retreat that lets you save more & connect more while you enjoy life indoors & out! A tight-knit community designed for active adults, 55+, who are looking for a luxury lifestyle without the hassles of home maintenance. Gated community w_private streets offers everything you need to enjoy the life you’ve worked so hard for. You’ll find an abundance of amenities right outside your door and an impressive collection of shopping, restaurants & more just ten minutes away. Enjoy meandering Hike-Bike Trails, Resort-style pool w_ deck, chaises, shade covering, Outdoor Catering Kitchen, Bar & Grill. RIO FLOORPLAN

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

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Zip Code: 75028

ZipNIR 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
 

$476,991$582,989$529,990

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

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-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,955
Property Tax -$915
Property Insurance -$172
HOA -$236
Property Management Fees -$99
CASH FLOW
-$1,287

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$529,990

PROJECTED PRICE

$2,090

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,447

INVESTMENT

$142,447

Down Payment
$132,498
Rehab Estimate
$2,000
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,498
Loan Amount $397,493
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$79

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,325

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1003$2,3004$2,500
$2,500
RENT COMPS ANALYSIS
  • 1921 Protea Drive Flower Mound, TX 1
    • 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,500 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.84
    •  
  • 236 Wallington Way Lewisville, TX 2
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2008
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 2438 Sunderland Lane Lewisville, TX 3
    • 3 beds 3 baths ∙ 2,556 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,556 Sqft ∙ Built 2009
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 713 Inglewood Drive Flower Mound, TX 4
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2002
    property image
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
PROPERTY LISTING DETAILS
Robin Brown
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418355
Last Updated: 08/21/2020
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