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1964 Hobart Lane Lewisville, TX 75067

3 Beds 2 Baths 1,813 sqft Built 1996

$285,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $157.20
  • 4 Days on Market
  • MLS # : 14499522
  • Updated Date : 01/16/2021 at 19:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,813 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Castle Hills

Listing Agent's Description

Beautiful home by central park & greenbelt, beautiful back yard, pergola & custom mosaic Spanish tile! Open floor plan, huge living room, large master suite with sitting area, kitchen has wood laminate floors, granite countertops & travertine backsplash, large secondary bedrooms. Fireplace, large walk in pantry & utility. Large master bath with granite countertops. *Seller does not have survey - buyer must obtain *Seller will be moving out April 1 *Multiple Offers received. Offer deadline is 1:00 Sunday the 17th.

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: Timber Creek Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k290k

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

Neighborhood: Timber Creek Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9451939

* 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
Creekside Elementary School Primary Regular 495 35 5
Durham Middle School Middle Regular 763 59 3
Lewisville High School Harmon Campus High Regular NA

Creekside Elementary School

  • Education Level: Primary
  • # of students: 495
  • # of teachers: 35
5
GreatSchools Rating

Durham Middle School

  • Education Level: Middle
  • # of students: 763
  • # of teachers: 59
3
GreatSchools Rating

Lewisville High School Harmon Campus

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$256,500$313,500$285,000

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 -$990
Property Tax -$491
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$68

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.

$285,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,237

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
  • $0.98

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7804$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 1964 Hobart Lane Lewisville, TX 3
    • 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,813 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.98
    •  
  • 544 Timber Way Drive Lewisville, TX 1
    • 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,765 Sqft ∙ Built 1995
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 2070 Belvedere Drive Lewisville, TX 2
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1995
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 802 Red Oak Drive Lewisville, TX 4
    • 4 beds 3 baths ∙ 1,802 Sqft ∙ Built 1988 4 beds 3 baths ∙ 1,802 Sqft ∙ Built 1988
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 940 Valley View Drive Lewisville, TX 5
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1995
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Lisa Contreras
Jp & Associates Castle Hills
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499522
Last Updated: 01/16/2021
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