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1941 Silver Leaf Drive Little Elm, TX 75068

3 Beds 2 Baths 1,833 sqft Built 2002

$295,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $160.94
  • 4 Days on Market
  • MLS # : 14503878
  • Updated Date : 01/23/2021 at 18:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,833 sqft
  • Baths : 2 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

Elegance and grace define this captivating single-story home in Woodlake West. Relax in the spacious family room around wood burning fireplace. Huge gourmet kitchen encompassing granite counters, stainless steel appliances, breakfast bar, and pantry! Private master offers walk-in closet, separate shower, relaxing soaking tub, and dual vanity. This split bedroom floor plan has generous secondary rooms everyone is going to love! Step outside to your backyard oasis featuring an opened patio and beautiful trees! This beauty is walking distance to Little Elm High School and has wonderful walking paths with views of water. Come see this beauty today!

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: Woodlake West

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $122k308k

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

Neighborhood: Woodlake West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10831912

* 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
Lakeview Elementary School Primary Regular 581 38 6
Lakeside Middle School Middle Regular 1,181 69 3
Little Elm High School High Regular 1,866 97 6

Lakeview Elementary School

  • Education Level: Primary
  • # of students: 581
  • # of teachers: 38
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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,025
Property Tax -$618
Property Insurance -$133
HOA -$29
Property Management Fees -$99
CASH FLOW
-$124

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.

$295,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,127

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,783

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$1,6954$1,7805$1,850
$1,850
RENT COMPS ANALYSIS
  • 1941 Silver Leaf Drive Little Elm, TX 4
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.97
    •  
  • 2708 Pecan Drive Little Elm, TX 1
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 2000
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 1940 Bradford Pear Drive Little Elm, TX 2
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2003
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.95
    •  
  • 1936 Juniper Little Elm, TX 3
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 2645 Elderberry Lane Little Elm, TX 5
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2003
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
PROPERTY LISTING DETAILS
Raul Arriaga
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503878
Last Updated: 01/23/2021
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