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1951 Sundown Drive Little Elm, TX 75068

5 Beds 4 Baths 3,748 sqft Built 2012

$430,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $114.73
  • 2 Days on Market
  • MLS # : 14518576
  • Updated Date : 02/13/2021 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,748 sqft
  • Baths : 3 full , 1 half
Listing Agent

Goldman Briggs

Listing Agent's Description

FANTASTIC FAMILY HOME NESTLED AT THE END OF CUL DE SAC IN BEAUTIFUL SUNSET POINTE!! THIS SPACIOUS, CLEAN AND COMFORTABLE RESIDENCE BOASTS GOURMET KITCHEN COMPLETE WITH COMMERCIAL GRADE EXHAUST, 36IN GAS COOKTOP AND BEAUTIFUL GRANITE COUNTERS. OPEN LIVING AREA COMPLIMENTED WITH ROW OF RADIANT WINDOWS PROVIDING TONS OF NATURAL LIGHT. KING SIZED MASTER SUITE, GENEROUS SECONDARY BEDDROOMS PLUS AMPLE SIZE MEDIA ROOM. ALL THAT AND MUCH MORE PLUS THREE CAR GARAGE AND EXTRA LARGE LOT WITH POOL SIZE BACKYARD AND COVERED PATIO COMPLETE THIS LITTLE ELM GEM. CLOSE TO SHOPPING, DINNING AND STORES AND WALKING DISTNCE TO SCHOOLS. ROOF REPLACED IN 2017. A MUST SEE PROPERTY +

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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: Sunset Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k371k

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

Neighborhood: Sunset Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,494
Property Tax -$920
Property Insurance -$244
HOA -$50
Property Management Fees -$99
CASH FLOW
-$186

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.

$430,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$6,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,670

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3503$2,6204$2,6505$3,000
$3,000
RENT COMPS ANALYSIS
  • 1951 Sundown Drive Little Elm, TX 3
    • 5 beds 4 baths ∙ 3,748 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,748 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.70
    •  
  • 2348 White Oak Drive Little Elm, TX 1
    • 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,448 Sqft ∙ Built 2002
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.67
    •  
  • 3018 Sundance Drive Little Elm, TX 2
    • 4 beds 4 baths ∙ 3,514 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,514 Sqft ∙ Built 2006
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.67
    •  
  • 3312 Canyon Lake Drive Little Elm, TX 4
    • 4 beds 4 baths ∙ 3,692 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,692 Sqft ∙ Built 2016
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.72
    •  
  • 3120 Summer Drive Little Elm, TX 5
    • 5 beds 3 baths ∙ 3,794 Sqft ∙ Built 2009 5 beds 3 baths ∙ 3,794 Sqft ∙ Built 2009
    LEASED 11/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.79
    •  
PROPERTY LISTING DETAILS
Israel Flores
Goldman Briggs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518576
Last Updated: 02/13/2021
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